Last quarter or so. MAA has dropped when peers reported weak results and outlooks, and it turned out to be a good buying opportunity, since MAA, in turn, came through with decent results.
That's the kind of buying opportunity I was hoping for this month, though, it seems like the peers' results are coming more in-line with expectations(due to much reduced expectations), so the opportunity may not present itself this quarter.
But, a few times a year, this stock seems to dip down into the lower 20s, and it may very well do so again. I bought a lot last Oct. - in fact, I margined to buy it, to take advantage of the spread between margin rates and MAA's 10% yield.
Let's hope we get a chance to buy some really, really cheap (on some non-MAA bad news event, of course!).
Looks like we escaped another quarter without a preannouncement, unlike some of our peers. Earnings on Friday should be decent. At low-23s, the stock is a great buy, and you get might get a small "relief" move back to the 24s when earnings are announced.