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Barclays Comments On Post Properties-Mid America Merger


Barclays commented on the announced merger between Post Properties Inc (NYSE: PPS) and Mid-America Apartment Communities Inc (NYSE: MAA).

Post Properties announced it would merge with Mid-America in a transaction that is expected to close in 4Q16.

"Under the terms of the combination, each PPS shareholder will receive a fixed exchange ratio of 0.71 shares of MAA; to that end, the value of PPS is now largely a function of MAA's share price," wrote Barclays, mentioning that Mid-America shareholders appear relatively pessimistic on the deal, based on market reaction. Since the transaction was announced, shares are down nearly 8 percent.

The analysts also note that the merger will create the largest REIT Owner of apartment units in the US.

Barclays reiterated its Equal-Weight rating, raising the price target to $65 from $64.

Latest Ratings for MAA

May 2019MaintainsOutperform
May 2019UpgradesNeutralBuy
Apr 2019DowngradesOutperformMarket Perform

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