Mid-America Apartment Communities Given Hold Rating at Jefferies Group (MAA)
Mid-America Apartment Communities (NYSE:MAA)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Group in a report released on Friday, Analyst Ratings.Net reports. They currently have a $64.00 price target on the stock, down from their previous price target of $69.00. Jefferies Group’s price target indicates a potential upside of 2.40% from the company’s current price.
The analysts wrote, “With: 1) several REITs lowering the high end of 2013 guidance during 2Q13 earnings season; 2) rising supply concerns; 3) rising risk of a reduction in GSE funding; and 4) continued risk of rising interest rates, we may have been early in our move to a more constructive view of sector in July. That said, the apartment sector has declined 9% since July 18, and valuation looks more reasonable; thus we maintain our neutral stance.”
Several other analysts have also recently commented on the stock. Analysts at RBC Capital cut their price target on shares of Mid-America Apartment Communities (NYSE:MAA) from $74.00 to $71.00 in a research note to investors on Wednesday, August 14th. They now have a “sector perform” rating on the stock. Separately, analysts at Zacks upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, July 23rd. They now have a $75.00 price target on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Mid-America Apartment Communities (NYSE:MAA) from $72.00 to $65.00 in a research note to investors on Monday, June 24th.
One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average target price of $70.50.
Mid-America Apartment Communities (NYSE:MAA) traded up 0.27% during mid-day trading on Friday, hitting $62.67. 74,811 shares of the company’s stock traded hands. Mid-America Apartment Communities has a 52 week low of $60.19 and a 52 week high of $74.94. The stock has a 50-day moving average of $63.64 and a 200-day moving average of $67.45. The company has a market cap of $2.678 billion and a P/E ratio of 19.76.
Mid-America Apartment Communities (NYSE:MAA) last released its earnings data on Wednesday, July 31st. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.22 by $0.05. The company had revenue of $133.90 million for the quarter, compared to the consensus estimate of $137.07 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that Mid-America Apartment Communities will post $4.86 earnings per share for the current fiscal year.
Mid-America Apartment Communities, Inc (NYSE:MAA) is a self-administered and self-managed real estate investment trust (REIT).
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