RBC Capital raised the firm’s price target on MAA to $169 from $148 and keeps a Sector Perform rating on the shares as part of a broader research note on Residential REITs. The firm is updating its models with generally higher price targets to reflect the recent market rent trends, leasing updates, lower Secured Overnight Financing Rate rates, higher target multiples, and lower costs of debt, while also marking net asset values closer to private market levels, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MAA:
- Mid-America Apartment Welcomes New Board Expertise
- MAA price target raised to $174 from $161 at Scotiabank
- MAA initiated with a Neutral at Exane BNP Paribas
- MAA price target raised to $163 from $139 at Deutsche Bank
- MAA initiated with an Underperform at Zelman