Most investors don't think of real estate investment trusts (REITs) as growth stocks. But certain REITs have major growth potential. For example, Mid-America Apartment Communities (NYSE: MAA) , now going by just MAA, saw its share price grow 871% to its peak in Nov 2021, outperforming the S&P 500 and providing an annualized return of nearly 15%.
But today's bear market along with a cooling housing market has brought share prices for this residential REIT down 37% this year. Wall Street hasn't lost hope in this stock though.
Analysts predict this growth stock could soar as much as 40% by 2023. While investors shouldn't put too much weight on analysts' near-term targets for stock pricing, here's why MAA is still a great buy-and-hold for both growth and income investors.
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Wall Street Thinks This Growth Stock Could Soar 40% By 2023