Mid-America Apartment Communities (NYSE:MAA) Raised to “Overweight” at KeyCorp

Mid-America Apartment Communities (NYSE:MAA) was upgraded by stock analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Tuesday, Marketbeat.com reports. The brokerage presently has a $180.00 price objective on the real estate investment trust’s stock. KeyCorp’s price target would indicate a potential upside of 19.31% from the company’s current price.

Several other brokerages also recently weighed in on MAA. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price on the stock in a research note on Monday, October 21st. Truist Financial lifted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Barclays started coverage on shares of Mid-America Apartment Communities in a research note on Tuesday. They set an “equal weight” rating and a $166.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average target price of $163.76.

Mid-America Apartment Communities Stock Down 3.3 %

MAA stock opened at $150.87 on Tuesday. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. The company has a fifty day moving average price of $156.99 and a 200 day moving average price of $152.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. 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 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same period in the previous year, the company posted $2.29 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts expect that Mid-America Apartment Communities will post 8.88 earnings per share for the current year.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. lifted its position in shares of Mid-America Apartment Communities by 6.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,698 shares of the real estate investment trust’s stock valued at $385,000 after acquiring an additional 166 shares in the last quarter. Brookstone Capital Management purchased a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $220,000. Raymond James & Associates lifted its holdings in Mid-America Apartment Communities by 209.1% in the 2nd quarter. Raymond James & Associates now owns 150,214 shares of the real estate investment trust’s stock valued at $21,422,000 after purchasing an additional 101,621 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth about $82,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Mid-America Apartment Communities during the second quarter worth about $26,000. Hedge funds and other 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.