Mid-America Apartment Communities (NYSE:MAA) Stock Price Expected to Rise, Truist Financial Analyst Says

Mid-America Apartment Communities (NYSE:MAA) had its price objective raised by Truist Financial from $158.00 to $174.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other equities research analysts have also commented on MAA. Evercore ISI boosted their target price on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. BMO Capital Markets dropped their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research note on Tuesday, January 21st. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Barclays upped their price objective on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Moderate Buy” and an average target price of $168.43.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $161.68 on Monday. The firm’s fifty day simple moving average is $156.37 and its 200-day simple moving average is $157.39. The stock has a market capitalization of $18.90 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities has a 12 month low of $123.73 and a 12 month high of $173.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

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

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently made changes to their positions in the business. Phocas Financial Corp. purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $262,000. Comprehensive Money Management Services LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $480,000. Siemens Fonds Invest GmbH acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $2,391,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $14,217,000. Finally, Azzad Asset Management Inc. ADV raised its position in shares of Mid-America Apartment Communities by 2.9% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 14,666 shares of the real estate investment trust’s stock valued at $2,267,000 after acquiring an additional 418 shares in the last quarter. 93.60% of the stock is currently 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.