Mid-America Apartment Communities (NYSE:MAA) Sets New 1-Year High Following Analyst Upgrade

Mid-America Apartment Communities, Inc. (NYSE:MAA) shares hit a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from $161.00 to $174.00. Scotiabank currently has a sector perform rating on the stock. Mid-America Apartment Communities traded as high as $167.25 and last traded at $166.26, with a volume of 15008 shares traded. The stock had previously closed at $166.18.

Several other analysts have also weighed in on MAA. Truist Financial raised their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Mizuho increased their target price on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Wedbush raised their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. JMP Securities upped their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Finally, BNP Paribas assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.91.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently modified their holdings of the business. DecisionPoint Financial LLC bought a new position in Mid-America Apartment Communities in the first quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities in the 2nd quarter worth $26,000. Mather Group LLC. bought a new position in Mid-America Apartment Communities during the 1st quarter worth about $32,000. Versant Capital Management Inc raised its stake in shares of Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Trading Down 1.6 %

The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $19.16 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 3.66 and a beta of 0.88. The business has a fifty day moving average price of $151.97 and a 200 day moving average price of $140.04.

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.