REIT - Multifamily REITs Face Pricing Challenges Amid Competitive Pressures: Analyst Adjusts Outlook For CPT And MAA | Benzinga
Wedbush analyst Richard Anderson cut the price target and estimates for Mid-America Apartment Communities Inc (NYSE: MAA) and Camden Property Trust (NYSE: CPT).
The analyst lowered the price target for CPT to $98 (from $105) with a maintained Outperform rating and MAA to $128 (from $137) while reiterating the Neutral rating.
The analyst expects supply to make competitive pressures for parts of the REIT portfolios, with private owners/developers offering 2+ months of concessions, creating pricing challenges for the neighboring communities owned by the REITs.
Anderson ...