Mid-America Apartment Communities, Inc. (NYSE:MAA)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research report issued on Sunday. They presently have a $120.00 target price on the real estate investment trust’s stock. Jefferies Group LLC’s price objective points to a potential upside of 11.17% from the company’s previous close. Jefferies Group also issued estimates for Mid-America Apartment Communities’ FY2018 earnings at $6.34 EPS.

A number of other equities research analysts have also recently issued reports on MAA. BidaskClub raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. UBS AG cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 target price for the company. in a research report on Thursday, July 6th. Zacks Investment Research raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research report on Wednesday, July 12th. Barclays PLC decreased their target price on Mid-America Apartment Communities from $117.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, July 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $109.75.

Shares of Mid-America Apartment Communities (NYSE MAA) opened at 107.94 on Friday. The stock’s 50 day moving average is $105.21 and its 200-day moving average is $102.98. Mid-America Apartment Communities has a 1-year low of $85.04 and a 1-year high of $110.95. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 49.90 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $382.80 million during the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The company’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, analysts anticipate that Mid-America Apartment Communities will post $1.69 EPS for the current year.

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In other news, Director David P. Stockert sold 6,872 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total value of $730,768.48. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.25% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Mid-America Apartment Communities by 2.0% in the first quarter. State Street Corp now owns 6,727,050 shares of the real estate investment trust’s stock valued at $684,403,000 after purchasing an additional 134,757 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Mid-America Apartment Communities by 295.1% in the second quarter. Retirement Systems of Alabama now owns 216,868 shares of the real estate investment trust’s stock valued at $22,854,000 after purchasing an additional 161,982 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Mid-America Apartment Communities by 7.3% in the first quarter. Pictet Asset Management Ltd. now owns 63,101 shares of the real estate investment trust’s stock valued at $6,420,000 after purchasing an additional 4,300 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Mid-America Apartment Communities by 5.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 91,366 shares of the real estate investment trust’s stock valued at $9,296,000 after purchasing an additional 4,824 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in shares of Mid-America Apartment Communities by 105.8% in the second quarter. Virginia Retirement Systems ET AL now owns 149,183 shares of the real estate investment trust’s stock valued at $15,721,000 after purchasing an additional 76,700 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

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.

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

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