Jefferies Downgrades Mid-America Apartment Communities (MAA) to Hold

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Jefferies downgraded Mid-America Apartment Communities (NYSE: MAA) from Buy to Hold with a price target of $70.00 (from $80.00).

The firm comments, "We still see some near-term upside in MAA given upcoming catalysts such as a potential credit rating upgrade. However, we are downgrading to a Hold rating as our analysis indicates MAA is meaningfully exposed to 1) Sunbelt markets with high housing affordability, and 2) a market at risk of apartment oversupply (Dallas). In addition, rent-toincome ratios are back to historical levels.This may begin to curb rent growth in 2H 2013."

For an analyst ratings summary and ratings history on Mid-America Apartment Communities click here. For more ratings news on Mid-America Apartment Communities click here.

Shares of Mid-America Apartment Communities closed at $65.07 yesterday, with a 52 week range of $55.12-$70.22.

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