Barclays Initiates Coverage on Mid-America Apartment Communities (NYSE:MAA)

Research analysts at Barclays began coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a report issued on Tuesday,Benzinga reports. The brokerage set an “equal weight” rating and a $166.00 price target on the real estate investment trust’s stock. Barclays‘s price objective would indicate a potential upside of 4.69% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Scotiabank cut their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $162.86.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $158.57 on Tuesday. Mid-America Apartment Communities has a one year low of $121.51 and a one year high of $167.39. The firm has a 50-day moving average of $156.93 and a 200-day moving average of $152.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $18.53 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.55 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same quarter in the prior year, the business earned $2.29 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities in the 2nd quarter valued at $26,000. Activest Wealth Management acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at $32,000. Catalyst Capital Advisors LLC acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at $37,000. Finally, UMB Bank n.a. raised its stake in Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

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.