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

Mid-America Apartment Communities (NYSE:MAA) had its price objective lifted by Truist Financial from $158.00 to $174.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on MAA. Barclays raised their price objective on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. JMP Securities restated a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. Finally, Wells Fargo & Company cut their price objective on shares of 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock 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 opened at $161.68 on Monday. The firm has a 50-day simple moving average of $156.37 and a 200-day simple moving average of $157.39. The stock has a market capitalization of $18.90 billion, a price-to-earnings ratio of 36.09, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities has a 52 week low of $123.73 and a 52 week high of $173.38.

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

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAA. Norges Bank acquired a new stake in Mid-America Apartment Communities during the fourth quarter worth approximately $826,562,000. Capital World Investors raised its holdings in Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after purchasing an additional 2,088,143 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Mid-America Apartment Communities by 312.6% in the 4th quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock valued at $189,507,000 after acquiring an additional 928,851 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Mid-America Apartment Communities by 516.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock valued at $170,694,000 after acquiring an additional 899,960 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock valued at $517,015,000 after acquiring an additional 708,125 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.