Fly Intel: Top five analyst initiations » 09:5509/2309/23/21
AVB, CPT, MAA, JOBY, TSLA
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. AvalonBay (AVB) initiated with a Buy at Goldman Sachs. 2. Camden Property (CPT) initiated with a Buy at Goldman Sachs. 3. MAA (MAA) initiated with a Neutral at Goldman Sachs. 4. Joby Aviation (JOBY) initiated with an Overweight at Morgan Stanley. 5. Tesla (TSLA) initiated with a Sell at Tudor Pickering. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MAA initiated with a Neutral at Goldman Sachs » 04:5509/2309/23/21
Goldman Sachs analyst…
Goldman Sachs analyst Chandni Luthra initiated coverage of MAA with a Neutral rating and $202 price target. The analyst initiated coverage of 10 residential real estate investment trusts with a bullish view over the next 12 months. Reopening momentum will "continue to build demand" as corporate America returns to the office, and the companies should see "strong" rental revenue growth given the "robust" macroeconomic backdrop, Luthra tells investors in a research note. The analyst sees MAA's valuation as appropriate given its growth profile, and waits for a better entry point.
|Over a week ago|
Fly Intel: Top five analyst upgrades » 09:5509/1309/13/21
CMAX, DELL, CG, BX, MGM, MAA
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. CareMax (CMAX) upgraded to Overweight from Neutral at Piper Sandler with analyst Jessica Tassan saying at last week's analyst and investor day, management "articulated a clear and focused multi-year strategy" that prioritizes organic growth through fiscal 2024. 2. Dell Technologies (DELL) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Rod Hall believing "strong" cash flow generation and a "clear road map" for a debt paydown continue to argue for a multiple on standalone Dell closer to comps. 3. Carlyle Group (CG) upgraded to Outperform from Market Perform at BMO Capital with analyst Rufus Hone expecting a "narrowing of the valuation gap" relative to capital-lite peers Blackstone (BX) and Ares Management (ARES), driven by a near-term inflection in organic net flows and earnings growth, a reduction in the perceived cyclicality of Carlyle's business and further increases in the accrued carry balance. 4. MGM Resorts (MGM) upgraded to Outperform from Market Perform at Bernstein with analyst Vitaly Umansky saying he has not given MGM enough credit on the progress made in its interactive strategy through BetMGM and tells investors in a research note that MGM has finally been able to effectuate fully its real estate divestiture strategy and buy out its 50% partner in City Center. 5. MAA (MAA) upgraded to Buy from Neutral at BTIG with analyst James Sullivan stating that rental spreads on new leases remained impressive at 10.3% in August on an annualized basis, and while the Sunbelt is outperforming the Coasts, growth is accelerating in the Coasts with all markets achieving positive rent growth last month. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MAA upgraded to Buy from Neutral at BTIG » 06:4709/1309/13/21
BTIG analyst James…
BTIG analyst James Sullivan upgraded MAA to Buy from Neutral with a $218 price target as part of a broader research note on Apartment REITs. The analyst states that rental spreads on new leases remained impressive at 10.3% in August on an annualized basis, and while the Sunbelt is outperforming the Coasts, growth is accelerating in the Coasts with all markets achieving positive rent growth last month. MAA is the best positioned Sunbelt REIT and should report strong Q3 results and provide positive outlooks for the remainder of the year, Sullivan adds.
MAA upgraded to Buy from Neutral at BTIG » 06:3109/1309/13/21
BTIG analyst James…
BTIG analyst James Sullivan upgraded MAA to Buy from Neutral with a $218 price target.
MAA initiated with an Overweight at Barclays » 08:0909/0109/01/21
Barclays analyst Anthony…
Barclays analyst Anthony Powell initiated coverage of MAA with an Overweight rating and $210 price target. The analyst initiated coverage of the U.S. real estate investment trust sector with a Positive view. He generally prefers Sunbelt names, even after their recent stock outperformance, saying strong population and income growth can help drive higher rent growth. Industrial is Powell's favorite subsector as he believes demand for warehouse space remains strong. The "retail apocalypse" looks overblown as shopping center fundamentals have "surprised us to the upside," Powell tells investors in a research note. Despite known challenges from Covid and retail moving to online, shopping center traffic is generally back to 2019 levels while leasing demand and pricing has been strong, contends the analyst.
MAA price target raised to $198 from $178 at Truist » 09:2708/2508/25/21
Truist analyst Michael…
Truist analyst Michael Lewis raised the firm's price target on MAA to $198 from $178 and keeps a Buy rating on the shares. The company's fundamentals appear "excellent" as it achieved blended spreads of 8.2% in Q2 and over 12% in July, with occupancy also topping 96.4%, the analyst tells investors in a research note. Lewis adds that while MAA's valuation gives him pause, its strong pricing power and no signs of pushback should allow investors to be patient for more clarity in terms of net operating income trends.
|Over a month ago|
MAA 1.1M share Spot Secondary priced at $192.50 » 08:3208/0308/03/21
The deal range was…
The deal range was $192.50-$193.50. JPMorgan and Wells Fargo acted as joint book running managers for the offering.
MAA 1.1M share Spot Secondary; price range $192.50-$193.50 » 16:4208/0208/02/21
JPMorgan and Wells Fargo…
JPMorgan and Wells Fargo are acting as joint book running managers for the offering.
MAA announces offering of 1.1M shares of common stock » 16:0608/0208/02/21
Mid-America Apartment Communities announced that it has commenced an underwritten public offering of 1.1M shares of common stock in connection with forward sale agreements. MAA has entered into forward sale agreements with J.P. Morgan Securities and Wells Fargo Securities or their affiliates with respect to 1.1M shares of its common stock. In connection with the forward sale agreements, the forward purchasers are expected to borrow and sell to the underwriters an aggregate of 1.1M shares of the common stock that will be delivered in this offering. MAA will not initially receive any proceeds from the sale of shares of its common stock by the forward purchasers in the offering. MAA expects to contribute the net proceeds, if any, it receives upon the future settlement of the forward sale agreements to its operating partnership, Mid-America Apartments, L.P., which intends to use such proceeds for its development and redevelopment activities, working capital and general corporate purposes, which may include the repayment of outstanding indebtedness under its commercial paper program, unsecured revolving credit facility and secured property mortgages, if any. General corporate purposes also may include the selective development, redevelopment or acquisition of properties. J.P. Morgan and Wells Fargo Securities are acting as the joint book-running managers for the offering.