Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $174.00

Mid-America Apartment Communities (NYSE:MAA) had its target price raised by equities researchers at Truist Financial from $158.00 to $174.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective points to a potential upside of 3.25% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on MAA. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Royal Bank of Canada upped their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. StockNews.com raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their target price for the stock from $148.00 to $190.00 in a report on Monday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.43.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA traded up $2.16 during trading on Monday, reaching $168.52. The company had a trading volume of 48,121 shares, compared to its average volume of 756,380. The stock has a market capitalization of $19.70 billion, a P/E ratio of 37.63, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities has a 12 month low of $123.73 and a 12 month high of $173.38. The company has a fifty day moving average of $155.87 and a two-hundred day moving average of $157.24.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. Equities research analysts forecast that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Hedge Funds Weigh In On Mid-America Apartment Communities

Hedge funds have recently bought and sold shares of the business. Phocas Financial Corp. bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth $262,000. Comprehensive Money Management Services LLC bought a new stake in Mid-America Apartment Communities during the 4th quarter valued at about $480,000. Siemens Fonds Invest GmbH bought a new position in Mid-America Apartment Communities in the 4th quarter worth about $2,391,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $14,217,000. Finally, Azzad Asset Management Inc. ADV increased its stake in shares of Mid-America Apartment Communities by 2.9% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 14,666 shares of the real estate investment trust’s stock valued at $2,267,000 after buying an additional 418 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.