Cantor Fitzgerald Reaffirms Buy Rating for Mid-America Apartment Communities (MAA)

Mid-America Apartment Communities (NYSE:MAA)‘s stock had its “buy” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued on Monday, November 13th. They currently have a $110.00 target price on the real estate investment trust’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 6.96% from the stock’s previous close.

The analysts wrote, “Markets with improving fundamentals in 2018 could include Austin, Charleston, Charlotte, Houston, Nashville, Raleigh, Tampa and Washington, D.C.; markets that could have moderating fundamentals include Atlanta, Dallas-Ft. Worth, Jacksonville, Orlando and Phoenix (based on jobs/ completions).””

A number of other brokerages also recently issued reports on MAA. BMO Capital Markets reiterated a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. SunTrust Banks reiterated a “buy” rating and issued a $109.00 price target on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. Stifel Nicolaus initiated coverage on shares of Mid-America Apartment Communities in a report on Thursday, August 31st. They issued a “hold” rating and a $113.00 price target for the company. BTIG Research upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a report on Friday, September 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $110.50.

Shares of Mid-America Apartment Communities (NYSE:MAA) traded up $0.40 during trading on Monday, reaching $102.84. 722,787 shares of the company’s stock were exchanged, compared to its average volume of 594,181. The stock has a market cap of $11,639.95, a P/E ratio of 17.25, a P/E/G ratio of 2.47 and a beta of 0.34. Mid-America Apartment Communities has a 52 week low of $87.59 and a 52 week high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.61. The business had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. sell-side analysts predict that Mid-America Apartment Communities will post 5.91 EPS for the current fiscal year.

In related news, Director David P. Stockert sold 6,872 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total value of $730,768.48. Following the sale, the director now directly owns 77,180 shares of the company’s stock, valued at approximately $8,207,321.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William Reid Sanders acquired 7,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the purchase, the director now owns 8,209 shares in the company, valued at approximately $821,802.99. The disclosure for this purchase can be found here. 1.25% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Mid-America Apartment Communities by 32.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 382 shares during the last quarter. Group One Trading L.P. acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $209,000. IFM Investors Pty Ltd acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $217,000. Timber Hill LLC acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $218,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $227,000. 93.11% of the stock is currently owned by institutional investors.

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About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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