Eric Bolton, the hard-charging and successful CEO of MAA (formerly Mid-America Apartments) lists Watch That Rat Hole among his recent reads as part of a profile in REIT Magazine’s January/February 2017 edition.
“I very much enjoyed reading your book as I found the information surrounding the creation of the REIT industry fascinating,” Eric says in an email exchange. “It brought back some memories along with reinforcing some sound investment principles.
“The insights you provide also served to remind me of just what a privilege we have to serve as stewards of shareholder capital and the responsibilities that go along with that. Your obvious success in balancing the responsibilities of career and family were something we could all relate to and learn from.
“Thanks for the work you put into writing your story and allowing us all to learn from your experience.”
Under Bolton’s tutelage, MAA stands among the fastest growing apartment REITs whose shares adorn the New York Stock Exchange listing table (symbol: MAA). MAA’s December 2016 acquisition of Post Properties brought its portfolio to over 101,000 apartments in 17 states stretching from Washington, DC across the Southeast and Southwest. The acquisition made Memphis-based MAA a member of the prestigious Standard & Poor’s 500 Stock Index and brought market valuation to a shade under $12 billion.
MAA celebrated by raising its dividend, its 92nd consecutive quarterly payout, to a $3.48 annual rate to yield about 3.3% to investors.
Ken Campbell’s memoir Watch That Rat Hole … and Witness the REIT Revolution traces his years creating and editing the first investment newsletter focusing on real estate investment trusts, or REITs. It is available through Archway Publishing, Amazon.com, Barnes & Noble and other fine booksellers.
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