Mid-America Apartment Communities, Inc. (MAA) Lifted to Buy at BTIG Research

Mid-America Apartment Communities, Inc. (NYSE:MAA) was upgraded by BTIG Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, September 8th, Marketbeat reports. The firm currently has a $116.00 target price on the real estate investment trust’s stock. BTIG Research’s target price would suggest a potential upside of 7.19% from the company’s previous close.

MAA has been the topic of several other reports. BidaskClub raised shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. UBS AG downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price objective on the stock. in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $112.00 price objective on shares of Mid-America Apartment Communities in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, Barclays PLC decreased their price target on shares of Mid-America Apartment Communities from $117.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. Three research 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 company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $109.75.

Mid-America Apartment Communities (NYSE:MAA) traded up 1.13% on Friday, hitting $108.22. 1,412,262 shares of the company were exchanged. The firm’s 50 day moving average is $106.01 and its 200 day moving average is $103.19. Mid-America Apartment Communities has a 52 week low of $85.04 and a 52 week high of $110.95. The company has a market capitalization of $12.29 billion, a P/E ratio of 50.03 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The firm’s revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the business earned $1.54 earnings per share. On average, equities research analysts forecast that Mid-America Apartment Communities will post $1.68 earnings per share for the current fiscal year.

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In other Mid-America Apartment Communities news, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the transaction, the director now directly owns 77,180 shares of the company’s stock, valued at $8,207,321.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.25% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. ING Groep NV raised its stake in Mid-America Apartment Communities by 0.4% during the second quarter. ING Groep NV now owns 5,816 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 22 shares during the period. United Capital Financial Advisers LLC raised its stake in Mid-America Apartment Communities by 1.1% during the first quarter. United Capital Financial Advisers LLC now owns 4,057 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 45 shares during the period. BB&T Corp raised its stake in Mid-America Apartment Communities by 0.9% during the second quarter. BB&T Corp now owns 5,314 shares of the real estate investment trust’s stock worth $560,000 after purchasing an additional 47 shares during the period. Cleararc Capital Inc. raised its stake in Mid-America Apartment Communities by 1.9% during the first quarter. Cleararc Capital Inc. now owns 2,797 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 53 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in Mid-America Apartment Communities by 0.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,677 shares of the real estate investment trust’s stock worth $809,000 after purchasing an additional 58 shares during the period. 91.83% of the stock is currently owned by institutional investors.

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)

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