MAA upgraded to Strong Buy from Market Perform at Raymond James

Raymond James double upgraded MAA (MAA) to Strong Buy from Market Perform with a $175 price target The firm cites record demand for apartments in the Sun Belt for the upgrade. It continues to see “incredibly strong demand” for Sun Belt apartments as household formation continues to grow rapidly, aided in part by an influx of international immigration. In turn, the absorption of vacant apartments has jumped to the second highest level on record, allowing the 50-year high of new apartment supply to crest this year with relatively limited pricing dislocation, the analyst tells investors in a research note.