Keefe, Bruyette & Woods Upgrades Mid-America Apartment Communities (MAA) to Outperform; Attractive Risk/Reward

Keefe, Bruyette & Woods upgraded Mid-America Apartment Communities (NYSE: MAA) to Outperform with a price target of $69.00.

KBW Analyst says, "MAA's YTD underperformance (-1.3%) vs. +12.1% for multifamily (+4.9% RMS)- translates into excessive discount valuation, in our view. MAA shares at -6% vs. NAV est $64 and -22% discount on FFO multiple vs sector (5 year avg disc. 14%). We view MAA as an attractive value poised to "catch up" in 2012 - based on attractive growth not priced into shares & lower expectations than the sector."

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 $59.67 yesterday.

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