MAA price target lowered to $159 from $178 at Truist

Truist lowered the firm’s price target on MAA to $159 from $178 and keeps a Hold rating on the shares. The firm lowered its 2023 FFO estimate to $9.16 per share from $9.24, due to slightly lower projected NOI and higher income tax expense than previously modeled, the analyst tells investors in a research note.