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Fly News Breaks for December 13, 2016
PPS, MAA
Dec 13, 2016 | 08:36 EDT
As noted earlier, RBC Capital upgraded MAA to Outperform from Sector Perform. Analyst Wes Golladay expects the REIT's 2017 revenue to grow above trend, driven by "manageable supply pressure and healthy Sunbelt job growth." The analyst says that the company's acquisition of Post Properties (PPS) should drive FFO and NAV growth, and he thinks that MAA's organic growth will be " more stable and predictable organic growth for the remainder of the cycle." Target to $103 from $106.
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