AIRC - Blackstone's Big Move Sparks REIT Rally: Mid-America Or Camden Properties Who Wins?
2024-04-10 07:00:00 ET
Summary
- Blackstone's acquisition of Apartment Income REIT has caused a rally in the apartment REIT segment.
- Mid-America Apartment Communities and Camden Property Trust are two compelling investment options in the apartment REIT space.
- Mid-America has a larger market cap and favorable geographic exposure, while CPT shows resilience in managing rent growth and expenses, particularly in California.
This article was written by Leo Nelissen.
On December 31, we published an article titled “10 REITs To Buy In 2024.”
One of the stocks we highlighted was the Apartment Income REIT Corp. ( AIRC ).
This is one of the largest landlords in the United States, as it owns 75 multifamily communities that cover more than 26 thousand units in 10 states and Washington, D.C.
What makes this REIT so special is its focus on higher-income renters, who bring a lot of safety and stability to the table.
Blackstone's Big Move Sparks REIT Rally: Mid-America Or Camden Properties, Who Wins?“Apartment Income REIT is selective in the tenants they lease to and look for high-quality tenants to fill their apartment homes. As of 3Q-23, AIRC’s tenants had an average income of $241,000 and an average FICO score of approximately 725. AIRC refers to these tenants as 'renters by choice.'”