Mid-America Apartment Communities (MAA) is one of the biggest landlords in the Sun Belt but its stock is down nearly 10% this year. The main reasons are a dip in core FFO, higher costs, and a glut of new apartments that slowed rent growth. Now, new supply is peaking while demand for rentals stays strong, giving MAA a path for higher rent growth. They’re investing heavily: 1,400 new units recently delivered, another 2,650 under construction, more land for future expansion, plus acquiring and upgrading properties. Even with a 4.3% dividend yield and these growth plans, the share price hasn't bounced back, which some see as a value opportunity.