Mid-America Apartment Communities (NYSE:MAA) had its target price increased by analysts at Citigroup from $120.00 to $135.00 in a research note issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup‘s target price suggests a potential upside of 0.75% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research report on Friday. They issued a “neutral” rating and a $149.00 target price on the stock. Barclays set a $141.00 price objective on Mid-America Apartment Communities and gave the stock a “buy” rating in a research note on Friday, October 11th. KeyCorp lifted their price objective on Mid-America Apartment Communities from $131.00 to $138.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Capital One Financial raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 4th. Finally, SunTrust Banks boosted their price objective on Mid-America Apartment Communities to $130.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $126.75.
Mid-America Apartment Communities stock traded down $1.27 during mid-day trading on Thursday, hitting $133.99. 461,365 shares of the company’s stock traded hands, compared to its average volume of 522,704. The firm has a 50 day simple moving average of $133.48 and a two-hundred day simple moving average of $122.59. Mid-America Apartment Communities has a fifty-two week low of $91.21 and a fifty-two week high of $140.15. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 5.38 and a beta of 0.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.08 and a quick ratio of 0.08.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a return on equity of 3.84% and a net margin of 16.25%. The firm had revenue of $415.63 million for the quarter, compared to the consensus estimate of $411.16 million. During the same quarter in the previous year, the business earned $1.50 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Mid-America Apartment Communities will post 6.46 earnings per share for the current fiscal year.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 5,000 shares of Mid-America Apartment Communities stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total value of $682,300.00. Following the completion of the sale, the director now owns 68,778 shares of the company’s stock, valued at approximately $9,385,445.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Financial Corp IN purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth about $27,000. Johnson Financial Group Inc. purchased a new stake in Mid-America Apartment Communities during the second quarter worth $29,000. JJJ Advisors Inc. purchased a new stake in Mid-America Apartment Communities during the second quarter worth $31,000. Parallel Advisors LLC lifted its holdings in Mid-America Apartment Communities by 38.2% during the third quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 73 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Mid-America Apartment Communities by 193.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 305 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 201 shares during the period. Institutional investors own 93.19% of the company’s stock.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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