MAA price target lowered to $136 from $142 at Truist

Truist lowered the firm’s price target on MAA (MAA) to $136 from $142 and keeps a Buy rating on the shares as part of a broader research note on REITs updating the firm’s estimates ahead of Q1 results. For MAA, the firm believes that its development lease-up assumptions were aggressive, not only given slower national employment growth, but based on typical NOI cadence for newly delivered apartment buildings, the analyst tells investors in a research note.