Mid-America Apartment Communities (NYSE:MAA) Given New $185.00 Price Target at Raymond James

Mid-America Apartment Communities (NYSE:MAA) had its price target boosted by equities researchers at Raymond James from $180.00 to $185.00 in a report released on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price target points to a potential upside of 13.72% from the company’s previous close.

Other analysts also recently issued research reports about the company. 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 report on Friday, January 24th. KeyCorp raised shares of 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. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $173.00 to $182.00 in a research report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven 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 has an average rating of “Moderate Buy” and an average target price of $168.90.

Mid-America Apartment Communities Stock Performance

NYSE MAA traded up $0.89 during trading hours on Thursday, hitting $162.68. The company had a trading volume of 29,039 shares, compared to its average volume of 663,302. Mid-America Apartment Communities has a fifty-two week low of $123.73 and a fifty-two week high of $173.38. The firm has a market cap of $19.02 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $157.68 and a 200-day simple moving average of $157.49.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAA. Activest Wealth Management bought a new position in Mid-America Apartment Communities in the third quarter valued at about $32,000. CoreCap Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 94.9% in the fourth 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 during the last quarter. IFP Advisors Inc lifted its stake in Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 68 shares in the last quarter. Quarry LP purchased a new position in Mid-America Apartment Communities during the 3rd quarter worth $45,000. Finally, Headlands Technologies LLC purchased a new position in Mid-America Apartment Communities during the 4th quarter worth $46,000. 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.