UPDATE: Hilliard Lyons Upgrades Mid-America Apartment Communities to Buy, Reiterates $71.50 PT
In a report published Friday, Hilliard Lyons upgraded its rating on Mid-America Apartment Communities (NYSE: MAA) from Neutral to Buy, and reiterated its $71.50 price target.
Hilliard Lyons noted, “We are raising our rating on MAA from Neutral to Buy. During the quarter, occupancy was strong at MAA. Resident turnover was historically low. Move-outs to buy a home declined year-over-year. We believe uncertainty in the economy and the job market, as well as tight home mortgage lending standards, creates a more attractive environment for renting than has typically existed.”
Mid-America Apartment Communities closed on Thursday at $65.43.
Latest Ratings for MAA
|Jun 2015||Cowen & Company||Initiates Coverage on||Outperform|
|Apr 2015||Janney Capital||Initiates Coverage on||Buy|
|Apr 2015||BMO Capital||Initiates Coverage on||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.