Mid-America Apartment Communities (NYSE:MAA) Earns “Market Outperform” Rating from JMP Securities

Mid-America Apartment Communities (NYSE:MAA)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a report issued on Friday,Benzinga reports. They currently have a $160.00 target price on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 7.93% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Barclays assumed coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 target price for the company. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target on the stock in a research report on Tuesday, December 17th. Finally, Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $166.92.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock opened at $148.25 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s fifty day moving average price is $156.65 and its 200 day moving average price is $153.84. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91. Mid-America Apartment Communities has a 12-month low of $121.51 and a 12-month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts forecast that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of hedge funds have recently made changes to their positions in MAA. West Oak Capital LLC raised its stake in Mid-America Apartment Communities by 448.9% during the 4th quarter. West Oak Capital LLC now owns 13,119 shares of the real estate investment trust’s stock valued at $2,028,000 after acquiring an additional 10,729 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Mid-America Apartment Communities by 36.0% during the fourth quarter. GAMMA Investing LLC now owns 2,575 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 682 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Mid-America Apartment Communities by 3.3% in the third quarter. Principal Financial Group Inc. now owns 143,909 shares of the real estate investment trust’s stock worth $22,867,000 after purchasing an additional 4,618 shares during the period. Synovus Financial Corp grew its position in Mid-America Apartment Communities by 5.8% in the 3rd quarter. Synovus Financial Corp now owns 29,763 shares of the real estate investment trust’s stock valued at $4,729,000 after buying an additional 1,629 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Mid-America Apartment Communities by 16.4% in the 3rd quarter. Tidal Investments LLC now owns 54,192 shares of the real estate investment trust’s stock valued at $8,611,000 after buying an additional 7,644 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.