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.
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