Mid-America Apartment Communities (MAA) Downgraded by Jefferies Group to Hold

Mid-America Apartment Communities (NYSE:MAA) was downgraded by investment analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat reports.

Several other equities research analysts also recently issued reports on MAA. ValuEngine downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. UBS downgraded shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 29th. BMO Capital Markets downgraded shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 price objective for the company. in a research report on Monday, November 27th. JMP Securities downgraded shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 19th. Finally, Raymond James Financial restated a “market perform” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, November 29th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Mid-America Apartment Communities presently has an average rating of “Buy” and a consensus price target of $110.50.

Shares of Mid-America Apartment Communities (NYSE:MAA) traded down $0.12 during trading hours on Thursday, reaching $102.45. 662,989 shares of the company traded hands, compared to its average volume of 674,240. Mid-America Apartment Communities has a twelve month low of $92.50 and a twelve month high of $110.95. The firm has a market cap of $11,640.00, a P/E ratio of 17.49, a P/E/G ratio of 2.51 and a beta of 0.34.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. During the same period last year, the business posted $1.47 EPS. Mid-America Apartment Communities’s revenue was up 38.9% on a year-over-year basis. research analysts expect that Mid-America Apartment Communities will post 5.92 EPS for the current year.

In other Mid-America Apartment Communities news, Director William Reid Sanders purchased 7,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was bought at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the transaction, the director now owns 8,209 shares in the company, valued at $821,802.99. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.25% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in MAA. Brookfield Asset Management Inc. bought a new position in Mid-America Apartment Communities in the second quarter valued at approximately $158,747,000. Cohen & Steers Inc. increased its stake in 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 valued at $216,514,000 after acquiring an additional 1,343,626 shares during the last quarter. Alliancebernstein L.P. increased its stake in Mid-America Apartment Communities by 90.7% in the second quarter. Alliancebernstein L.P. now owns 2,406,670 shares of the real estate investment trust’s stock valued at $253,615,000 after acquiring an additional 1,144,768 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Mid-America Apartment Communities by 3,863.2% during the third quarter. Daiwa Securities Group Inc. now owns 797,196 shares of the real estate investment trust’s stock worth $85,205,000 after buying an additional 777,081 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Mid-America Apartment Communities by 4,202.0% during the second quarter. Janus Henderson Group PLC now owns 565,631 shares of the real estate investment trust’s stock worth $59,607,000 after buying an additional 552,483 shares during the last quarter. 92.97% 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.

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