24/7 Wall St. » MAA

Top Analyst Upgrades & Downgrades (AMGN, T, BAX, BHP, FFIV, AWAY, M, MAA, NVLS, OPEN, SFD, URBN, WWWW)

Administrator — Tue, 20 Dec 2011 13:35:49 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage research calls this Tuesday morning.

Amgen Inc. (NASDAQ: AMGN) Added to Strong Buy List at Zacks Investment Research.
AT&T Inc. (NYSE: T) Cut to Neutral at JPMorgan.
Baxter International Inc. (NYSE: BAX) Reduced to Outperform from the “Top Pick” and target lowered to $58 from $61 by RBC Capital Markets.
BHP Billiton Ltd. (NYSE: BHP) cut to Underperform and named as Bear of the Day at Zacks Investment Research.
F5 Networks, Inc. (NASDAQ: FFIV) Raised to Outperform from Perform at Oppenheimer.
HomeAway, Inc. (NASDAQ: AWAY) Started as Neutral at Credit Suisse.
Macy’s Inc. (NYSE: M) named as value stock of the day at Zacks Investment Research.
Mid-America Apartment Communities Inc. (NYSE: MAA) Raised to Outperform at Keefe Bruyette & Woods.
Novellus Systems, Inc. (NASDAQ: NVLS) Cut to Neutral from Overweight at JPMorgan.
OpenTable Inc. (NASDAQ: OPEN) Started as Outperform with a $49.00 price target objective at Credit Suisse.
Smithfield Foods Inc. (NYSE: SFD) named as Bull of the Day at Zacks Investment Research.
Urban Outfitters Inc. (NASDAQ: URBN) Raised to “Top Pick” from Outperform at FBR Capital Markets.
Web.com Group, Inc. (NASDAQ: WWWW) Started as Overweight at JPMorgan.

JON C. OGG

Filed under: Analyst Calls Tagged: AMGN, AWAY, BAX, BHP, FFIV, M, MAA, NVLS, OPEN, SFD, T, URBN, WWWW

Mid-America Ready To Acquire More Apartment Projects (MAA)

247wallst — Mon, 29 Jun 2009 19:11:05 +0000

Mid-America Apartment Communities Inc. (NYSE: MAA) has a new investment partnership it plans to use for making acquisitions. The $250 million fund may be a bit misleading on the size, mainly because its partner seems to be a 10% contribution by Mid-America itself. Here is the basic criteria and the investment goals of the fund for Mid-America:

Mid-America’s primary operating unit called Mid-America Apartments, L.P. entered into an agreement with TPRF II/Memphis Investor L.L.C. This TPRF II is an affiliate of Thackeray Partners. The two have established a joint venture called the Mid-America Multifamily Fund II, LLC. Mid-America will own one-third of the fund, while TPRF II/Memphis Investor L.L.C. will own the rest.

The fund will acquire up to $250 million of multi-family apartment communities over an eighteen-month period. The total equity contribution by Mid-America is approximately $25 million and this will be Mid-America’s exclusive investment vehicle for acquisitions 7 years of age or older during the investment period.

Mid-America will receive a management fee of 4.25% of revenues, an asset management fee of 0.5% on equity invested, a 0.5% acquisition fee of the purchase price of each acquisition. It will also receive a promote fee for investment returns above 15%. Mid-America anticipates an investment life for Fund II of a period of 6 to 8 years.

Mid-America shares are trading a tad lower by 1.9% at $35.01 on fairly thin trading volume, while its 52-week range is $22.22 to $60.66. Its market cap on last look was listed as $988 million.

Jon C. Ogg
June 29, 2009

Posted in REIT Tagged: MAA

Top 10 Pre-Market Analyst Calls (ALU, ATHR, HUN, LVLT, MAA, RSOL, TER, TEVA, TWTI, WFMI)

247wallst — Mon, 30 Jun 2008 06:04:39 +0000

These are ten of the analyst calls we have seen in the early hours of trading this Monday morning:

Alcatel-Lucent (NYSE: ALU) Raised to Neutral from Underperform at Merrill Lynch.
Atheros Communications (NASDAQ: ATHR) Raised to Buy from Neutral at Piper Jaffray.
Huntsman (NYSE: HUN) raised to Hold from Underperform at Jefferies & Co
Level 3 Communications (NASSDAQ: LVLT) Cut to Sell from Hold at Citigroup.
Mid-America Apartment (NYSE: MAA) raised to Outperform at Robert W. Baird.
Real Goods Solar (NASDAQ: RSOL) started as Perform at Oppenheimer.
Teradyne (NYSE: TER) Raised to Buy from Neutral at Piper Jaffray.
Teva Pharmaceuticals (NASDAQ: TEVA) raised to Overweight at HSBC.
Third Wave (NASDAQ: TWTI) Cut to Neutral at Piper Jaffray.
Whole Foods Market (NASDAQ: WFMI) Cut to Neutral from Buy at UBS.

Jon C. Ogg
June 30, 2008