Mid-America Apartment Communities, Inc. (NYSE:MAA) was upgraded by investment analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm presently has a $116.00 target price on the real estate investment trust’s stock. BTIG Research’s price objective suggests a potential upside of 7.47% from the stock’s current price.

MAA has been the topic of several other reports. BidaskClub downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $112.00 price target on shares of Mid-America Apartment Communities in a research report on Wednesday, August 9th. BMO Capital Markets reaffirmed a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, July 27th. Finally, Zacks Investment Research downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Mid-America Apartment Communities presently has an average rating of “Buy” and an average price target of $109.33.

Mid-America Apartment Communities (NYSE:MAA) traded up 0.85% on Friday, hitting $107.94. The company had a trading volume of 845,630 shares. The stock has a market cap of $12.26 billion, a P/E ratio of 49.90 and a beta of 0.35. Mid-America Apartment Communities has a 12-month low of $85.04 and a 12-month high of $110.95. The firm’s 50 day moving average price is $105.02 and its 200 day moving average price is $102.94.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company had revenue of $382.80 million for the quarter, compared to the consensus estimate of $382.17 million. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The firm’s revenue was up 40.6% compared to the same quarter last year. During the same period last year, the business posted $1.54 earnings per share. Equities analysts predict that Mid-America Apartment Communities will post $1.69 earnings per share for the current fiscal year.

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In related news, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total transaction of $730,768.48. Following the sale, the director now directly owns 77,180 shares of the company’s stock, valued at $8,207,321.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.25% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ING Groep NV lifted its stake in Mid-America Apartment Communities by 0.4% during the second quarter. ING Groep NV now owns 5,816 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 22 shares during the period. United Capital Financial Advisers LLC lifted its stake in Mid-America Apartment Communities by 1.1% during the first quarter. United Capital Financial Advisers LLC now owns 4,057 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 45 shares during the period. BB&T Corp lifted its stake in Mid-America Apartment Communities by 0.9% during the second quarter. BB&T Corp now owns 5,314 shares of the real estate investment trust’s stock worth $560,000 after purchasing an additional 47 shares during the period. Cleararc Capital Inc. lifted its stake in Mid-America Apartment Communities by 1.9% during the first quarter. Cleararc Capital Inc. now owns 2,797 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 53 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Mid-America Apartment Communities by 0.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,677 shares of the real estate investment trust’s stock worth $809,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Mid-America Apartment Communities Company Profile

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.

Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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