$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 over the weekend. If you like being in the know and want FREE weekend reading, be sure to sign up NOW. It's FREE!! Thus far I’ve talked only of coastal apartment REITs. My preference for these REITs
