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Goldman Sachs Resumes Mid-America Apartment Communities (MAA) at Buy

February 22, 2024 4:50 AM EST
Get Alerts MAA Hot Sheet
Price: $127.90 -0.18%

Rating Summary:
    13 Buy, 17 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 11 | New: 46
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(Updated - February 22, 2024 9:34 AM EST)

Goldman Sachs analyst Chandni Luthra resumes coverage on Mid-America Apartment Communities (NYSE: MAA) with a Buy rating and a price target of $149.00.

The analyst comments "We resume coverage of MAA with a Buy rating. We acknowledge supply headwinds facing MAA’s markets, but note that demand trends have been holding better-than-expected and peak supply pressure (from new deliveries and lease-up) is just around the corner (2Q24) and supply headwinds should moderate from there on; we are also positive on MAA’s lowest leverage in the group boding well for opportunistic acquisitions. Finally, at the current levels, we think that valuation has bottomed out, and expect the multiple gap to coastal names to narrow from here as we get past peak supply and demand remains healthy. Our 12-month target price of $149 implies 23% total return (including 5% dividend yield)."

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 $127.67 yesterday.


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