$MAA/CPT
Things are quite good for sunbelt apartment owners
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Both Camden (CPT) and Mid American (MAA) reported results this week. Operating results are strong - CPT's new lease rents inflected positively and are +4.4% in April (blended lease rates for April of 4.5%). MAA reported even stronger results (slightly different geographic mix - CPT slowed by SoCal/
MAA/CPT -Quick sunbelt update
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Mid American and Camden both reported results last week. For 4Q20/FY2020 MAA's results were a bit better as it has less exposure to the soft Houston market and no exposure to Los Angeles. Similarly, MAA has a slightly better outlook for 2021. MAA mgmt expects slightly positive NOI expected
Sunbelt Apartment REITs: 20-25% Below Private Market Value
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Note: A draft was sent to our FREE Actionable Investment Idea Newsletter [https://www.privateeyecapital.com/signup/] over the weekend. If you like being in the know and want FREE weekend reading, be sure to sign up NOW [https://www.privateeyecapital.com/signup/]. It's FREE!! Thus far I’ve talked
