Mid-America Apartment Communities (NYSE:MAA) Given New $174.00 Price Target at Truist Financial

Mid-America Apartment Communities (NYSE:MAA) had its target price boosted by Truist Financial from $158.00 to $174.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective indicates a potential upside of 3.25% from the company’s current price.

A number of other research firms also recently commented on MAA. KeyCorp raised Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target for the company in a research note on Tuesday, December 17th. BMO Capital Markets decreased their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 21st. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Jefferies Financial Group raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and lifted their price target for the company from $148.00 to $190.00 in a report on Monday. Finally, Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $173.00 to $182.00 in a research report on Friday, February 14th. One equities research 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.43.

Mid-America Apartment Communities Stock Performance

Shares of MAA traded up $2.16 during midday trading on Monday, reaching $168.52. The stock had a trading volume of 48,121 shares, compared to its average volume of 756,380. Mid-America Apartment Communities has a one year low of $123.73 and a one year high of $173.38. The firm has a market cap of $19.70 billion, a PE ratio of 37.63, a P/E/G ratio of 3.72 and a beta of 0.90. The firm has a 50 day simple moving average of $155.87 and a 200-day simple moving average of $157.24. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MAA. Phocas Financial Corp. bought a new stake in Mid-America Apartment Communities during the 4th quarter valued at $262,000. Comprehensive Money Management Services LLC bought a new position in shares of Mid-America Apartment Communities in the fourth quarter worth $480,000. Siemens Fonds Invest GmbH purchased a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at $2,391,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at $14,217,000. Finally, Azzad Asset Management Inc. ADV lifted its holdings in 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 worth $2,267,000 after purchasing an additional 418 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

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.