MAA price target lowered to $150 from $160 at BTIG

BTIG lowered the firm’s price target on MAA (MAA) to $150 from $160 and keeps a Buy rating on the shares. The impact of the supply curve is persisting longer than anticipated, though the company’s same-store net operating income is likely to bottom in the first quarter if they haven’t already, and effective rent growth is heading in the right direction even as new lease pricing remains stubbornly weak, the analyst tells investors in a research note.