Previous close | 162.55 |
Open | 162.52 |
Bid | 0.00 x 800 |
Ask | 0.00 x 800 |
Day's range | 162.20 - 165.89 |
52-week range | 141.13 - 217.64 |
Volume | |
Avg. volume | 627,580 |
Market cap | 19.575B |
Beta (5Y monthly) | 0.76 |
PE ratio (TTM) | 30.43 |
EPS (TTM) | 5.42 |
Earnings date | 01 Feb 2023 |
Forward dividend & yield | 5.60 (3.39%) |
Ex-dividend date | 12 Jan 2023 |
1y target est | 175.63 |
Mid-America Apartment Communities and Essex Property Trust have a lot in common, but one seems to be a slightly better buy.
The average real estate investment trust (REIT) shed a quarter of its value as rising interest rates weighed on valuations. One sector in particular that stands out is residential REITs focused on the fast-growing Sun Belt region, led by Camden Property Trust (NYSE: CPT), MAA (NYSE: MAA), and Independence Realty Trust (NYSE: IRT).
The red-hot housing market of 2021 and 2022 is officially over. Weakening demand continues as interest rates and inflation weigh on consumers. The slowing market has investors concerned over the future of popular residential real estate investment trusts (REITs) like MAA (NYSE: MAA), Camden Property Trust (NYSE: CPT), and Invitation Homes (NYSE: INVH).