Jefferies Upgrades Mid-America Apartment Communities (MAA) to Buy

Jefferies upgraded Mid-America Apartment Communities (NYSE: MAA) from Hold to Buy with a price target of $72 (up from $64).

The firm comments, "We are upgrading MAA shares to Buy, from Hold, as we believe it represents an attractive GARP (growth at a reasonable price) play in the Apartment REIT space. We believe investors are underestimating the recovery in the Sunbelt market given 1) employment trends and household formation are forecast to outpace national trends, and 2) new housing and apartment supply looks manageable relative to demand."

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 $64.15 yesterday.

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