MAA - ... Thus The Apartment REIT Rally Began

• Apartment REITs saw their rally begin over the last few days.
• Their lowest point was reached in the panic following EQR's earnings release, but the information wasn't as bad as investors seem to believe.
• It was easy for many investors to misunderstand the decline in same-property NOI since it relies on some accounting rules that rarely come into play.
• We maintained a bullish outlook on the sector and used the opportunity to build our positions in great dividend growth stocks.

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