MAA initiated with an Equal Weight at Barclays

Barclays analyst Richard Hightower initiated coverage of MAA (MAA) with an Equal Weight rating and $166 price target as part of a broader research note on REITs. In its last earnings call, the company has indicated that the peak of deliveries of new supply occurred this past third quarter, and the management is “convinced that the spring leasing season will usher in the start of a recovery cycle”, though the firm is also at neutral vs. a more bullish stance on Camden Property (CPT) due to valuation, the analyst tells investors in a research note.