Mid-America Apartment catches upgrade at BMO

|About: Mid-America Apartment Co... (MAA)|By:, SA News Editor

Mid-America's (NYSE:MAA) discount to peers is "unwarranted," says analyst John Kim, upgrading to Outperform from Market Perform, and lifting the price target to $104 from $102 (suggests about 11% upside).

Catalysts for narrowing that discount are the Post Properties purchase and the coming addition to the S&P 500.

Kim has held that MAA's organic growth and balance-sheet strength are at "the high end of the sector," views he's even more comfortable with after meeting with management at the recent NAREIT conference.

Source: Bloomberg