Mid-America Apartment (MAA – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Gorman from BTIG maintained a Buy rating on the stock and has a $160.00 price target.
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Michael Gorman has given his Buy rating due to a combination of factors despite the slightly underwhelming financial results reported by Mid-America Apartment (MAA) for the fourth quarter of 2024. MAA’s Core FFO per share was marginally below expectations, and the guidance for 2025 also fell short of both company and consensus estimates. However, the company’s ability to reach the midpoint of its initial guidance and the anticipation of market stabilization in 2025 point towards potential value growth.
Furthermore, MAA’s strategic investment plans, including a $75 million acquisition-to-disposition spread and $300 million development opportunities, show a commitment to growth. Although the same-store net operating income showed a decline, the expectation of improvement in MAA’s markets later in 2025 provides a positive outlook. This anticipated market inflection, coupled with the potential for valuation improvement heading into 2026, supports Gorman’s Buy rating for MAA, maintaining a price target of $160.
In another report released on January 27, Morgan Stanley also upgraded the stock to a Buy with a $168.00 price target.
MAA’s price has also changed slightly for the past six months – from $146.520 to $156.870, which is a 7.06% increase.