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Fly News Breaks for August 19, 2016
PPS, MAA
Aug 19, 2016 | 07:23 EDT
As noted earlier, SunTrust upgraded MAA (MAA) to Buy from Neutral. Analyst Michael Lewis believes that investors are "misinterpreting" the REIT's merger with Post Properties (PPS). Although the deal could be dilutive in the near-term, it should boost MAA's profits over the longer term, wrote Lewis. Moreover, MAA is the most defensive REIT in its sector, while its balance sheet is "excellent" and the stock's recent decline has created "a compelling entry point," according to Lewis.
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