Mid-America Apartment Communities (MAA) PT Raised to $170 at Citizens JMP

Citizens JMP analyst Aaron Hecht raised the price target on Mid-America Apartment Communities (NYSE: MAA) to $170.00 (from $160.00) while maintaining a Market Outperform rating.

The analyst commented, “We reiterate our Market Outperform rating and increase our price target to $170 (10% 2026E NAV premium, unchanged) from $160 on shares of Mid-America Apartment Communities (MAA) following 1Q25 results. MAA reported Core FFO of $2.20, which came in slightly below Citizens at $2.21 but above consensus at $2.16 per share. The miss versus our estimate was insignificant as it was actually a $0.003 difference. Results for the quarter were above management's projections (it previously guided to an FFO midpoint of $2.16 per share) on stronger same-store results and timing-related items. Despite the beat, we were not surprised to see FY2025 guidance maintained given the timeframe within the year and considering uncertainty on the economic impact of tariffs. Key to performance will be a meaningful decline in new construction deliveries over the next two years, down 30%-40%, with new lease rates trending positive by 3Q25. Furthermore, we expect the momentum in new lease rate growth that is beginning this year to last at least through 2027. Given the strong forward supply-demand fundamentals and a solid balance sheet, we believe a NAV premium for this stock is justified, and our price target represents 9.0% capital appreciation and a current yield of 3.8% for a total return of 12.8%.”

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Aurora Spine settles patent dispute, secures $600K insider loan
• Home Depot (HD) call put ratio 1.5 calls to 1 put with a focus on September 330 puts into quarter results