Mid-America Apartment Communities, Inc. (NYSE:MAA)‘s stock had its “buy” rating reissued by Royal Bank Of Canada in a research report issued on Friday. They currently have a $110.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 6.39% from the company’s current price.

MAA has been the subject of several other research reports. BidaskClub cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. ValuEngine cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. JMP Securities cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 19th. Stifel Nicolaus lowered their price target on shares of Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, October 27th. Finally, Mizuho reissued a “hold” rating and set a $106.00 price objective on shares of Mid-America Apartment Communities in a research note on Sunday, October 15th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $108.92.

Mid-America Apartment Communities (MAA) traded up $0.28 during trading hours on Friday, hitting $103.39. 459,663 shares of the stock were exchanged, compared to its average volume of 660,291. The company has a market cap of $11,750.00, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 2.47 and a beta of 0.35. Mid-America Apartment Communities has a one year low of $87.59 and a one year high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.61. The company had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. equities research analysts anticipate that Mid-America Apartment Communities will post 5.91 EPS for the current year.

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In related news, Director William Reid Sanders acquired 7,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were purchased at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the acquisition, the director now directly owns 8,209 shares in the company, valued at $821,802.99. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director David P. Stockert sold 6,872 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the completion of the transaction, the director now owns 77,180 shares in the company, valued at $8,207,321.20. The disclosure for this sale can be found here. 1.25% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new stake in shares of Mid-America Apartment Communities in the second quarter valued at about $13,838,000. Gilman Hill Asset Management LLC lifted its position in Mid-America Apartment Communities by 9.2% during the third quarter. Gilman Hill Asset Management LLC now owns 6,193 shares of the real estate investment trust’s stock worth $662,000 after purchasing an additional 520 shares during the period. JPMorgan Chase & Co. lifted its position in Mid-America Apartment Communities by 41.4% during the third quarter. JPMorgan Chase & Co. now owns 3,196,899 shares of the real estate investment trust’s stock worth $300,477,000 after purchasing an additional 935,745 shares during the period. BlackRock Inc. lifted its position in Mid-America Apartment Communities by 4.3% during the third quarter. BlackRock Inc. now owns 215,584 shares of the real estate investment trust’s stock worth $20,263,000 after purchasing an additional 8,977 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Mid-America Apartment Communities by 26.6% during the third quarter. Principal Financial Group Inc. now owns 464,608 shares of the real estate investment trust’s stock worth $43,668,000 after purchasing an additional 97,759 shares during the period. Hedge funds and other institutional investors own 90.99% 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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