Why Mid-America Apartment Communities Stock Tumbled Nearly 24% in the First Half of 2022
Shares of Mid-America Apartment Communities (NYSE: MAA) slumped 23.87% during the first half of 2022, according to data provided by S&P Global Market Intelligence. That was a slightly steeper slide than the S&P 500's 20.6% first-half decline.
That downdraft came amid what was a strong first half for Mid-America. Here's a look at the factors affecting the real estate investment trust (REIT) this year.
Mid-America has reported excellent financial results so far this year. In February, the residential REIT reported its fourth-quarter results for 2021. The highlight was a 15.2% year-over-year increase in its core funds from operations (FFO) per share, driven by robust demand for apartments in the Sun Belt.
Source Fool.com
