MAA price target lowered to $185 from $215 at Barclays

Barclays analyst Anthony Powell lowered the firm’s price target on MAA to $185 from $215 and keeps an Overweight rating on the shares. After earnings, the analyst is "incrementally cautious" on 2023 rent growth for coastal multifamily real estate investment trusts. He sees downside risks driven by white-collar/tech layoffs, particularly on the West Coast, and reduced estimates for the space.