Raymond James Forecasts Strong Price Appreciation for Mid-America Apartment Communities (NYSE:MAA) Stock

Mid-America Apartment Communities (NYSE:MAA) had its target price raised by equities researchers at Raymond James from $180.00 to $185.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price objective points to a potential upside of 14.77% from the company’s current price.

Several other research firms have also weighed in on MAA. Wells Fargo & Company decreased 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 note on Friday, January 24th. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $159.50 to $168.00 in a research note on Friday, January 24th. Royal Bank of Canada upped their price target on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their price target for the company from $148.00 to $190.00 in a research note on Monday, March 10th. Finally, Evercore ISI upped their price target on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $168.90.

Mid-America Apartment Communities Trading Down 0.9 %

MAA opened at $161.19 on Thursday. The stock has a market capitalization of $18.84 billion, a P/E ratio of 35.98, a P/E/G ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities has a 12 month low of $123.73 and a 12 month high of $173.38. The firm’s fifty day simple moving average is $158.21 and its 200 day simple moving average is $157.52. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Mid-America Apartment Communities

Institutional investors have recently made changes to their positions in the business. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $32,000. CoreCap Advisors LLC raised 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 worth $36,000 after purchasing an additional 112 shares in the last quarter. IFP Advisors Inc raised its holdings in 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 purchasing an additional 68 shares in the last quarter. Quarry LP bought a new position in Mid-America Apartment Communities in the 3rd quarter worth $45,000. Finally, Headlands Technologies LLC bought a new position in Mid-America Apartment Communities in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.