Mid-America Apartment Communities (NYSE:MAA) PT Raised to $174.00 at Scotiabank

Mid-America Apartment Communities (NYSE:MAA) had its target price lifted by investment analysts at Scotiabank from $161.00 to $174.00 in a report released on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 6.10% from the stock’s current price.

Several other equities research analysts have also recently commented on MAA. Wedbush boosted their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $138.00 to $174.00 in a report on Monday, August 26th. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price for the company. Mizuho upped their price target on Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, The Goldman Sachs Group started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average target price of $159.91.

Mid-America Apartment Communities Stock Down 1.6 %

Mid-America Apartment Communities stock opened at $164.00 on Monday. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $167.39. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 3.66 and a beta of 0.88. The company’s 50-day moving average price is $151.97 and its two-hundred day moving average price is $140.04. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth about $109,000. Janney Montgomery Scott LLC lifted its stake in Mid-America Apartment Communities by 163.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after acquiring an additional 13,474 shares during the last quarter. ING Groep NV grew its position in Mid-America Apartment Communities by 9.1% in the fourth quarter. ING Groep NV now owns 15,975 shares of the real estate investment trust’s stock worth $2,148,000 after acquiring an additional 1,327 shares in the last quarter. Norges Bank bought a new stake in Mid-America Apartment Communities in the fourth quarter worth approximately $713,500,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Mid-America Apartment Communities during the 4th quarter worth $744,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.