Mid-America Apartment Communities (NYSE:MAA) Upgraded by Jefferies Financial Group to “Buy” Rating

Jefferies Financial Group upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a hold rating to a buy rating in a report published on Monday morning, Marketbeat reports. They currently have $190.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $148.00.

A number of other brokerages have also recently commented on MAA. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $173.00 to $182.00 in a research report on Friday, February 14th. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective on the stock in a research report on Tuesday, December 17th. Wells Fargo & Company cut their price objective on 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $168.43.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock opened at $161.68 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The business’s 50 day simple moving average is $156.37 and its two-hundred day simple moving average is $157.39. The stock has a market capitalization of $18.90 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities has a one year low of $123.73 and a one year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. Analysts forecast that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Institutional Investors Weigh In On Mid-America Apartment Communities

Institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth $25,000. Activest Wealth Management purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth $32,000. CoreCap Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 112 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 68 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Mid-America Apartment Communities during the third quarter valued at $45,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

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.