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Fly News Breaks for June 19, 2019
MAA
Jun 19, 2019 | 09:17 EDT
SunTrust analyst Michael Lewis raised his price target on MAA to $120 and kept his Buy rating, adjusting his model to reflect a "lower risk-free rate and an improved assumed valuation relative to net asset value". The analyst notes that the REIT is up 23% year-to-date and none of its apartment REIT peers look cheap, but he is positive on MAA's Sunbelt geography, relatively lower rent with redevelopment upside, and favorable annualized comps.
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