Mid-America Apartment Communities (NYSE:MAA) Hits New 52-Week High on Analyst Upgrade

Mid-America Apartment Communities, Inc. (NYSE:MAA)’s stock price reached 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 changing hands. The stock had previously closed at $166.18.

Several other equities research analysts also recently commented on MAA. Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Thursday, June 13th. 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. Piper Sandler upped their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. JMP Securities upped their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Finally, Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $159.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MAA. Wellington Management Group LLP increased its position in shares of Mid-America Apartment Communities by 323.8% in the fourth quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after purchasing an additional 30,855 shares during the period. Perpetual Ltd bought a new stake in Mid-America Apartment Communities during the 1st quarter worth $15,413,000. Miller Howard Investments Inc. NY increased its holdings in Mid-America Apartment Communities by 9.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock worth $25,984,000 after purchasing an additional 17,765 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Mid-America Apartment Communities by 163.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after purchasing an additional 13,474 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Mid-America Apartment Communities by 159.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock worth $3,531,000 after purchasing an additional 16,144 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

The company has a 50 day moving average price of $151.97 and a 200-day moving average price of $140.04. The company has a market cap of $19.16 billion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 3.66 and a beta of 0.88. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76.

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.