Mid-America Apartment Communities, Inc. (MAA) PT Lowered to $116.00
Mid-America Apartment Communities, Inc. (NYSE:MAA) had its price objective lowered by equities researchers at Barclays PLC from $117.00 to $116.00 in a research note issued on Tuesday. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays PLC’s price objective would indicate a potential upside of 14.94% from the stock’s previous close.
Several other research firms have also recently commented on MAA. BidaskClub raised Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. UBS Group AG cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price objective on the stock. in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, April 27th. Finally, Zacks Investment Research cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $107.62.
Mid-America Apartment Communities (NYSE MAA) traded down 0.32% during midday trading on Tuesday, hitting $100.92. The stock had a trading volume of 869,020 shares. The firm has a 50 day moving average of $104.54 and a 200 day moving average of $100.39. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 42.76 and a beta of 0.35. Mid-America Apartment Communities has a 52 week low of $85.04 and a 52 week high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.46 EPS for the quarter, beating the consensus estimate of $1.44 by $0.02. Mid-America Apartment Communities had a return on equity of 5.02% and a net margin of 17.03%. The company had revenue of $375.91 million for the quarter, compared to analysts’ expectations of $358.74 million. During the same period last year, the firm posted $1.50 earnings per share. Mid-America Apartment Communities’s revenue was up 39.7% compared to the same quarter last year. Equities research analysts predict that Mid-America Apartment Communities will post $1.52 EPS for the current year.
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In related news, Director Gary Shorb acquired 500 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were purchased at an average price of $98.90 per share, with a total value of $49,450.00. Following the completion of the purchase, the director now directly owns 4,250 shares of the company’s stock, valued at $420,325. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.25% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in Mid-America Apartment Communities by 50.7% in the first quarter. Creative Planning now owns 1,715 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 577 shares during the period. Chickasaw Capital Management LLC bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $203,000. Commerzbank Aktiengesellschaft FI bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $217,000. Rehmann Capital Advisory Group bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $227,000. Finally, Park Avenue Securities LLC bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $239,000. 91.88% of the stock is currently owned by hedge funds and other institutional investors.
About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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