Mid-America Apartment Communities, Inc. (NYSE:MAA) is named among the 15 Blue Chip Dividend Stocks for Passive Income. Wells Fargo cut MAA’s price target to $150 but maintained an Overweight rating, citing solid operating conditions in the REIT sector amidst economic concerns.

MAA is expanding its portfolio with recent acquisitions and development plans. The company purchased a 318-unit apartment community in Kansas City and announced a new development in Scottsdale, Arizona. MAA controls 15 development sites approved for over 4,200 units.

MAA remains financially strong with nearly $1 billion worth of projects in the pipeline, expected to drive FFO per-share growth. The company boasts a 15-year streak of dividend growth, positioning itself for continued success in the future.

MAA is a residential REIT focused on apartment properties. While considered a solid investment, some believe certain AI stocks offer greater potential upside with less downside risk. Investors are encouraged to explore other opportunities in the market.

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Read more at Yahoo Finance: Wells Fargo Sees Solid Outlook for MAA Despite Price Target Cut