In a report released today, Barry Oxford from Colliers Securities reiterated a Buy rating on Mid-America Apartment (MAA – Research Report), with a price target of $170.00.
Barry Oxford has given his Buy rating due to a combination of factors that highlight Mid-America Apartment’s strategic positioning and financial performance. The company has demonstrated a strong focus on full-cycle investment performance, particularly in key regions such as the Southeast, Southwest, and Mid-Atlantic, which are crucial for its growth strategy. Despite a slight decrease in same-store revenue growth and average effective rent per unit, MAA has managed to maintain a historically low resident turnover rate, indicating stability in its tenant base.
The company’s financial results have exceeded expectations, with core FFO numbers surpassing both consensus and internal projections. Although there was a slight decline in NOI, the overall financial health remains robust, supported by a strong balance sheet with significant cash reserves and a low debt-to-market capitalization ratio. Additionally, MAA’s strategic activities, including property sales and ongoing developments, position it well for future growth. The company’s guidance for 2025 remains optimistic, with expectations for core FFO per share to remain strong, further justifying the Buy rating.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $182.00 price target.