Mid-America Apartment Communities (NYSE:MAA) Raised to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from an equal weight rating to an overweight rating in a report published on Monday, MarketBeat.com reports. Wells Fargo & Company currently has $174.00 target price on the real estate investment trust’s stock, up from their previous target price of $138.00.

Several other brokerages also recently issued reports on MAA. Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a neutral rating to a buy rating and set a $150.00 price objective for the company in a research note on Thursday, June 13th. Morgan Stanley raised their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an equal weight rating in a research note on Wednesday, May 15th. Truist Financial raised their price objective on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a buy rating in a research note on Monday, June 24th. UBS Group raised their price objective on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a sell rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a sector perform rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $154.66.

Mid-America Apartment Communities Stock Up 0.7 %

Shares of NYSE:MAA opened at $161.51 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. Mid-America Apartment Communities has a 12 month low of $115.56 and a 12 month high of $161.82. The company has a 50-day moving average price of $146.13 and a 200 day moving average price of $136.61. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 3.27 and a beta of 0.85.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased its holdings in Mid-America Apartment Communities by 5.0% during the second quarter. Cetera Investment Advisers now owns 54,005 shares of the real estate investment trust’s stock valued at $7,702,000 after buying an additional 2,584 shares during the period. Graham Capital Wealth Management LLC purchased a new position in Mid-America Apartment Communities during the second quarter valued at approximately $3,194,000. Truist Financial Corp increased its holdings in Mid-America Apartment Communities by 2.5% during the second quarter. Truist Financial Corp now owns 50,346 shares of the real estate investment trust’s stock valued at $7,180,000 after buying an additional 1,216 shares during the period. Pathway Financial Advisers LLC increased its holdings in Mid-America Apartment Communities by 12.2% during the second quarter. Pathway Financial Advisers LLC now owns 2,657 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 288 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Mid-America Apartment Communities by 24.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,936 shares of the real estate investment trust’s stock valued at $2,558,000 after buying an additional 3,533 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.