Marje Summary Flagship (TSX:MHC.UN:CA) reported Q4 2023 earnings on March 14, 2024. The results reflect the resilience and strong performance of the manufactured housing (“MH”) asset class. In addition to strong financial performance, MHC up-financed ~$25MM of expiring mortgages, raising proceeds of ~$55MM at 5.95% and a 10-year tenor in January. These proceeds were used…
edb3_16 AvalonBay Communities (NYSE:AVB) is shifting toward more suburban and sunbelt areas. Overall, AVB’s performance for the quarter looks positive. AvalonBay Communities Projected growth in FFO per share was 1.4%. That may be revised up slightly based on more recent commentary. Revenue growth is coming in slightly higher than projected due to better occupancy and…
cmannphoto We’re reviewing Mid-America Apartment Communities (NYSE:MAA) Q4 2023 earnings with a potential investment in mind, but we’re cautious given the current economic landscape. We find the current valuation attractive already but would like to see another dip before initiating a position. We anticipate MAA facing tougher challenges compared to other housing REITs due to…
Century Communities, Inc. (NYSE:CCS) Q4 2023 Earnings Conference Call January 31, 2024 5:00 PM ET Company Participants Tyler Langton – Senior Vice President of Investor Relations Dale Francescon – Chairman and Co-Chief Executive Officer Rob Francescon – Co-Chief Executive Officer and President Dave Messenger – Chief Financial Officer Conference Call Participants Carl Reichardt – BTIG…
deberarr Investment Thesis Mid-America Apartment Communities (NYSE:MAA) is a real estate investment trust (REIT) which operates over 100,000 multifamily rental units in the United States, mainly in the south and southeast. MAA owns units in some of the largest and highest growing markets in the south such as Atlanta, Dallas, Tampa, and Charlotte. MAA is…
JuSun Buying rental properties a common way to invest in real estate, and one way that many mom and pop investors use to measure investment returns from real property is to take the annual rental amount divided by the purchase price. While this ratio may be higher than the dividend yield of some REITs, it’s…
CreativaStudio We have been looking at multi-family high-quality residential REITs, as we believe it is one of the sectors that currently offers better value in the real estate sector, especially when one considers its more defensive nature. There are many options to consider, but we decided to focus on six of the biggest and best…
Grand Warszawski A couple of months ago, before the release of Q3 2023 earnings, I issued an article Mid-America Apartment Communities (NYSE:MAA) assigning a buy rating. It was really a combination of two fundamentally important factors that made the investment thesis rather attractive – i.e., one of the safest balance sheets in the sector with…
Kirpal Kooner Main Thesis & Background The purpose of this article is to evaluate Mid-America Apartment Communities, Inc. (NYSE:MAA) as an investment option. The company is a “real estate investment trust that focuses on the acquisition, selective development, redevelopment, and management of multifamily homes throughout the Southeast, Southwest, and Mid-Atlantic regions of the United States”….
P_Wei Introduction Let’s start this article a bit differently. Below, you’re looking at six charts from the Harvard Mathematics Department. All of them are different varieties of exponential functions. Harvard Mathematics Department In finance, it’s all about exponential growth. After all, that’s how we all want to accumulate wealth: exponentially. 5% compounding interest on a…
Kirpal Kooner When it comes to residential REITs, one prospect that investors should not pass up looking into is Mid-America Apartment Communities (NYSE:MAA). As its name suggests, the company focuses on acquiring and renting out apartments. Given the large percentage of Americans who rent instead of own, and because of the rising cost of home…
Marje Summary Since my initial report in late September, Flagship Communities’ (TSX:MHC.UN:CA, OTCPK:MHCUF) shares have remained essentially flat. This is despite a strong Q3 and 5% distribution increase (n.b., ~3.9% forward yield). I now believe MHC offers one of the best quality/risk/value profiles in the residential REIT space. MHC’s portfolio of affordable, recession-proof manufactured housing…
The threat of online censorship is real and an ever-expanding threat to our freedom of speech and association. Before the creation of the Internet, the way most people connected was through their community. Places such as moose lodges, rotary clubs, union halls, car clubs, Boy Scouts, and Girl Scouts were the primary ways people in…
Brandon Bell/Getty Images News Investment Thesis Mid-America Apartment Communities (NYSE:MAA) is the largest and arguably strongest Sunbelt apartment REIT with about 102,000 units in the portfolio. This portfolio is well diversified across various types of multifamily communities, including highly amenitized and luxurious apartments appealing to higher income individuals as well as more modest and affordable…
andreswd The preferred stock of Mid-America Apartment Communities (MAA) has declined 23% since it peaked, in mid-2021. As a result, the preferred stock is currently offering an exceptionally attractive yield of 8.0%. When a stock offers such a high yield, it usually signals that the dividend is at the risk of being cut. However, I…
Nature, food, landscape, travel/iStock via Getty Images Introduction It has been almost eight months since I last discussed Flagship Communities REIT (OTCPK:MHCUF) ((MHC.UN:CA)) and as the REIT has reported on the financial results of three quarters since the publication of my previous article, I figured an update on its financial performance would be useful. I’m…
Dragon Claws Multifamily operator of value-oriented apartments, ELME Communities (NYSE:ELME), successfully completed the internalization of their community-level operations in Q2. Though this wasn’t completed fully without hitch, the execution risk is now behind the management team, providing them with the capacity to further focus on their operational initiatives. One significant aspect is the installation of…
baona/iStock via Getty Images Investment Thesis Century Communities (NYSE:CCS) has been on a stellar ride with shares spiking 35% over the past year as a result of growth within home building sector driven by lack of resale inventory. Its attractive positioning within entry level ready to move-in homes has been the key catalyst in the…
RoschetzkyIstockPhoto/iStock via Getty Images Dear subscribers, I’ve been looking at Resi REITs, or residential REITs for a number of months now, allocating capital to all of the attractive ones as they’ve become cheap. My latest buys, including what I’ve communicated through articles, have been purchases of Mid-America (MAA) and Camden (CPT), two I didn’t really…
Mid-America Apartment Communities, Inc. (NYSE:MAA) Q2 2023 Results Conference Call July 27, 2023 10:00 AM ET Company Participants Andrew Schaeffer – SVP, Treasurer & Director, Capital Markets Eric Bolton – President, CEO Tim Argo – Chief Strategy & Analysis Officer Al Campbell – CFO Rob DelPriore – CAO, General Counsel Brad Hill – CIO Conference…
Yesterday, Olaoluwa Osuntokun and Michael Levin of Lightning Labs announced the release of a new set of developer tools aimed at empowering the Lightning and AI developer communities to create inclusive and cost-effective Large Language Model (LLM) tooling. These tools leverage the Lightning Network and bitcoin to seamlessly integrate with LLMs. They are built on…
Geyser, a leading Bitcoin grant organization, has announced the launch of its fifth Bitcoin grant, aimed at supporting educational initiatives and community-based programs focused on Bitcoin. The grant opens up opportunities for campaigns that promote and bolster Bitcoin schools and communities worldwide. Mick Morucci, CEO of Geyser, emphasized the importance of Bitcoin for underserved populations,…