Scotiabank Downgrades Mid-America Apartment Communities Due to Subpar Rent Growth Expectations
On May 14, Scotiabank downgraded Mid-America Apartment Communities (MAA) from Sector Perform to Underperform and cut its price target to $120. The downgrade is attributed to expected subpar rent growth in Sunbelt markets due to overbuilding that may take years to absorb. In contrast, Barclays raised MAA's price target on May 11.
Tickers: $MAA
Topics: Market Analysis Real Estate REITs