Valued at a market cap of $15.8 billion, Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust (REIT) that owns, acquires, develops, manages and redevelops multifamily apartment communities. Headquartered in Germantown, Tennessee, the company focuses on high-growth metropolitan areas in the Southeast, Southwest, and Mid-Atlantic, targeting middle- to upper-income renters.
This residential REIT has considerably underperformed the broader market over the past 52 weeks. Shares of MAA have declined 14.2% over this time frame, while the broader S&P 500 Index ($SPX) has gained 12.3%. Moreover, on a YTD basis, the stock is down 2.7%, compared to SPX’s marginal uptick.
