Mid-America Apartment Communities (NYSE:MAA) Given New $174.00 Price Target at Truist Financial

Mid-America Apartment Communities (NYSE:MAA) had its price objective raised by Truist Financial from $158.00 to $174.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on the company. Mizuho decreased their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Scotiabank raised Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $173.00 to $182.00 in a report on Friday, February 14th. Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. StockNews.com upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price target on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $168.43.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $167.40 on Monday. Mid-America Apartment Communities has a 52 week low of $123.73 and a 52 week high of $173.38. The business’s 50 day moving average price is $155.87 and its 200 day moving average price is $157.24. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market cap of $19.57 billion, a P/E ratio of 37.37, a P/E/G ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, sell-side analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds have recently bought and sold shares of MAA. Ashton Thomas Securities LLC purchased a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $25,000. Activest Wealth Management acquired a new position in Mid-America Apartment Communities during the third quarter worth $32,000. CoreCap Advisors LLC grew its holdings in Mid-America Apartment Communities by 94.9% in the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 112 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 68 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth $45,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.