Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $161.00 at Royal Bank of Canada

Mid-America Apartment Communities (NYSE:MAA) had its target price hoisted by equities researchers at Royal Bank of Canada from $158.00 to $161.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price points to a potential upside of 1.88% from the company’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $159.50 to $168.00 in a research note on Friday, January 24th. StockNews.com raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and a consensus price target of $165.80.

Mid-America Apartment Communities Stock Down 0.5 %

NYSE:MAA traded down $0.84 during trading hours on Friday, reaching $158.03. 888,698 shares of the company traded hands, compared to its average volume of 722,987. Mid-America Apartment Communities has a 1 year low of $121.51 and a 1 year high of $167.39. The stock has a market capitalization of $18.47 billion, a P/E ratio of 35.73, a P/E/G ratio of 2.46 and a beta of 0.91. The business’s 50-day moving average price is $153.77 and its two-hundred day moving average price is $155.12. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. Analysts predict that Mid-America Apartment Communities will post 8.89 earnings per share for the current year.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of large investors have recently bought and sold shares of the business. Johnson Investment Counsel Inc. boosted its position in Mid-America Apartment Communities by 4.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 7,163 shares of the real estate investment trust’s stock valued at $1,107,000 after buying an additional 307 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Mid-America Apartment Communities by 1.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 55,448 shares of the real estate investment trust’s stock valued at $8,571,000 after purchasing an additional 645 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Mid-America Apartment Communities by 22.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,482 shares of the real estate investment trust’s stock worth $22,796,000 after purchasing an additional 27,392 shares in the last quarter. Amundi raised its position in Mid-America Apartment Communities by 10.5% during the 4th quarter. Amundi now owns 230,159 shares of the real estate investment trust’s stock valued at $34,372,000 after purchasing an additional 21,836 shares in the last quarter. Finally, Naviter Wealth LLC lifted its holdings in shares of Mid-America Apartment Communities by 10.0% in the 4th quarter. Naviter Wealth LLC now owns 8,474 shares of the real estate investment trust’s stock worth $1,310,000 after buying an additional 768 shares during the period. Hedge funds and other 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.