Mid-America Apartment Communities (NYSE:MAA)‘s stock had its “buy” rating restated by investment analysts at Barclays in a research note issued to investors on Tuesday. They presently have a $112.00 target price on the real estate investment trust’s stock. Barclays’ target price would indicate a potential upside of 21.37% from the company’s current price.
A number of other equities analysts have also commented on MAA. Zacks Investment Research lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Stifel Nicolaus upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Friday, January 19th. They noted that the move was a valuation call. SunTrust Banks set a $102.00 price objective on shares of Mid-America Apartment Communities and gave the stock a “buy” rating in a report on Monday, January 22nd. DA Davidson set a $110.00 price objective on shares of Mid-America Apartment Communities and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, ValuEngine lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Mid-America Apartment Communities presently has a consensus rating of “Buy” and an average target price of $104.62.
Shares of NYSE:MAA traded up $0.59 during midday trading on Tuesday, hitting $92.28. 333,958 shares of the company’s stock traded hands, compared to its average volume of 819,668. The firm has a market capitalization of $10,402.54, a price-to-earnings ratio of 15.54, a PEG ratio of 2.18 and a beta of 0.33. Mid-America Apartment Communities has a twelve month low of $85.16 and a twelve month high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.40). Mid-America Apartment Communities had a return on equity of 4.99% and a net margin of 21.42%. The firm had revenue of $382.74 million during the quarter, compared to analyst estimates of $386.33 million. equities research analysts forecast that Mid-America Apartment Communities will post 6.01 EPS for the current year.
In other news, Director Claude B. Nielsen sold 7,200 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $86.44, for a total value of $622,368.00. Following the completion of the sale, the director now owns 20,417 shares of the company’s stock, valued at approximately $1,764,845.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Shorb bought 500 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $86.53 per share, with a total value of $43,265.00. Following the transaction, the director now directly owns 4,750 shares in the company, valued at approximately $411,017.50. The disclosure for this purchase can be found here. 1.26% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its position in shares of Mid-America Apartment Communities by 8.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 15,829 shares of the real estate investment trust’s stock worth $1,592,000 after purchasing an additional 1,238 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Mid-America Apartment Communities by 1.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 92,175 shares of the real estate investment trust’s stock valued at $9,269,000 after buying an additional 1,247 shares during the last quarter. Brookfield Asset Management Inc. grew its position in shares of Mid-America Apartment Communities by 6.6% during the 4th quarter. Brookfield Asset Management Inc. now owns 1,552,278 shares of the real estate investment trust’s stock valued at $156,097,000 after buying an additional 96,700 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $3,535,000. Finally, Gotham Asset Management LLC grew its position in shares of Mid-America Apartment Communities by 10.3% during the 4th quarter. Gotham Asset Management LLC now owns 15,380 shares of the real estate investment trust’s stock valued at $1,547,000 after buying an additional 1,438 shares during the last quarter. 94.72% of the stock is owned by institutional investors.
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About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of December 31, 2017, MAA had ownership interest in 100,489 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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