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MAA price target lowered to $155 from $158 at RBC Capital

RBC Capital analyst Brad Heffern lowered the firm’s price target on MAA (MAA) to $155 from $158 and keeps a Sector Perform rating on the shares after its Q2 results. The company’s guidance update saw a reduction in same-store revenue growth offset by lower expenses, the analyst tells investors in a research note. RBC adds that MAA management did not attribute the slower-than-expected Sunbelt recovery to anything other than broader economic uncertainty, and noted continued strong absorption and demand.

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