Mid-America Apartment Communities (MAA) Given New $112.00 Price Target at Barclays

Mid-America Apartment Communities (NYSE:MAA) had its target price cut by analysts at Barclays from $113.00 to $112.00 in a research note issued on Tuesday. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays’ price target indicates a potential upside of 20.20% from the stock’s previous close.

A number of other equities research analysts also recently commented on MAA. DA Davidson set a $110.00 price objective on Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Tuesday. SunTrust Banks set a $102.00 price objective on Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Monday, January 22nd. JMP Securities downgraded Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 19th. Stifel Nicolaus upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, January 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $109.62.

Shares of Mid-America Apartment Communities (MAA) traded down $0.07 during trading hours on Tuesday, hitting $93.18. The stock had a trading volume of 423,973 shares, compared to its average volume of 704,642. Mid-America Apartment Communities has a one year low of $90.88 and a one year high of $110.95. The firm has a market cap of $10,738.89, a P/E ratio of 42.03, a PEG ratio of 2.19 and a beta of 0.34.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Mid-America Apartment Communities by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 2,862,188 shares of the real estate investment trust’s stock worth $303,363,000 after acquiring an additional 391,336 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of Mid-America Apartment Communities by 197.0% in the third quarter. Cohen & Steers Inc. now owns 2,025,767 shares of the real estate investment trust’s stock worth $216,514,000 after acquiring an additional 1,343,626 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mid-America Apartment Communities by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,638,144 shares of the real estate investment trust’s stock worth $175,082,000 after acquiring an additional 28,084 shares during the last quarter. Brookfield Asset Management Inc. acquired a new position in shares of Mid-America Apartment Communities in the second quarter worth $158,747,000. Finally, Wells Fargo & Company MN increased its stake in shares of Mid-America Apartment Communities by 11.3% in the third quarter. Wells Fargo & Company MN now owns 1,349,514 shares of the real estate investment trust’s stock worth $144,234,000 after acquiring an additional 136,632 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors and hedge funds.

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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.