7 years from now help7/5/2023 ![]() ![]() There were some signs of those affects in its recent first-quarter report. Weighing on shares are concerns about the impact of higher interest rates and a slowing economy on its operations. It's down about 30% from its 52-week high. ![]() That sector-leading performance has come even though the REIT has cooled considerably over the past year. Extra Space has increased its payout by 548% during the past decade. A big driver of those outsize returns has been its rapidly rising dividend. The self-storage REIT delivered the highest total returns in the entire REIT sector during that period, with an average annual total return of 17.2%, easily outpacing the S&P 500's 12.2% return. Matt DiLallo (Extra Space Storage): Extra Space Storage has been a phenomenal stock over the past decade. That lower price has pushed the yield up to about 3.6% and the long-term prospects for a company with such strong finances and a great business point to it being a stock on sale to consider now for a nice buy-and-hold for conservative investors interested in growth and income alike. Rising interest rates and concerns over the ability to continue raising rents at the breakneck pace that marked the pandemic market have depressed shares of REITs such as MAA, which at about $150 a share is more than 20% off its 52-week high of $192.68. This chart shows how well MAA has performed in total return - a combination of dividends and stock price movement - over the past 10 years against two benchmark exchange-traded funds, the Vanguard Real Estate ETF for a sector comparison and the Vanguard S&P 500 ETF for the greater market. MAA has been public for 28 years and during that time has paid 117 straight quarterly cash dividends and raised the payout every year for the past 13 years. This residential REIT represents an attractive opportunity for investors interested in both a reliable income stream and a share price that has fallen by about a third from its peak in late 2021 to what could well be a bargain level. These apartments are primarily in markets such as Houston, Atlanta, and Dallas, as well as Charlotte, North Carolina Austin, Texas Nashville, Tennessee and Orlando and Tampa, Florida, all of them Sun Belt metro areas with strong job and population growth. Marc Rapport (Mid-American Apartment Communities): Mid-America Apartment Communities, which goes by MAA, is a real estate investment trust (REIT) that lays claim to one of the nation's largest collections of multifamily properties, a portfolio that now numbers about 300 apartment communities and 102,000 units. ![]() This major apartment owner has been sold off, and maybe now's the time to buy ![]()
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