Mid-America Apartment Communities (NYSE:MAA) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a $100.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 8.08% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Jefferies Group cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, December 14th. Raymond James Financial restated a “market perform” rating on shares of Mid-America Apartment Communities in a report on Wednesday, November 29th. UBS Group cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 29th. Finally, BMO Capital Markets cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 target price on the stock. in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Mid-America Apartment Communities currently has a consensus rating of “Buy” and an average price target of $110.50.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded up $0.98 during mid-day trading on Friday, hitting $92.52. 711,723 shares of the stock were exchanged, compared to its average volume of 570,190. Mid-America Apartment Communities has a 1 year low of $90.88 and a 1 year high of $110.95. The company has a market cap of $10,401.42, a PE ratio of 41.68, a PEG ratio of 2.12 and a beta of 0.34.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The firm had revenue of $384.60 million for the quarter, compared to analysts’ expectations of $386.96 million. During the same quarter in the previous year, the business posted $1.47 EPS. The company’s quarterly revenue was up 38.9% on a year-over-year basis. sell-side analysts forecast that Mid-America Apartment Communities will post 5.92 earnings per share for the current year.
In other news, Director William Reid Sanders purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were bought at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the purchase, the director now directly owns 8,209 shares in the company, valued at approximately $821,802.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders purchased 7,116 shares of company stock worth $710,687. 1.25% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Group One Trading L.P. purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth about $209,000. IFM Investors Pty Ltd purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $217,000. Timber Hill LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $218,000. Independent Advisor Alliance bought a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $227,000. Finally, Parametrica Management Ltd bought a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $236,000. Institutional investors own 92.78% of the company’s stock.
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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.