Mid-America Apartment Communities (NYSE:MAA) Coverage Initiated at Evercore ISI

Equities research analysts at Evercore ISI began coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set an “inline” rating and a $155.00 price target on the real estate investment trust’s stock. Evercore ISI’s target price indicates a potential upside of 5.47% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. BMO Capital Markets decreased their price target on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a report on Tuesday. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research note on Monday, October 21st. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price on the stock in a research note on Tuesday, December 17th. Finally, Barclays started coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $165.73.

Mid-America Apartment Communities Stock Down 0.1 %

MAA opened at $146.97 on Friday. Mid-America Apartment Communities has a 12 month low of $121.51 and a 12 month high of $167.39. The company has a market cap of $17.18 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $155.33 and a 200 day moving average of $154.33.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter last year, the firm posted $2.29 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts expect that Mid-America Apartment Communities will post 8.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $25,000. Activest Wealth Management purchased a new stake in shares of Mid-America Apartment Communities during the third quarter worth about $32,000. Catalyst Capital Advisors LLC bought a new stake in shares of Mid-America Apartment Communities in the third quarter worth about $37,000. Quarry LP purchased a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $45,000. Finally, UMB Bank n.a. raised its position in Mid-America Apartment Communities by 30.5% during the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 75 shares during the last quarter. 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.