Mid-America Apartment Communities (NYSE:MAA) Now Covered by Analysts at BTIG Research

Investment analysts at BTIG Research assumed coverage on shares of Mid-America Apartment Communities (NYSE:MAAGet Rating) in a note issued to investors on Monday, TipRanks reports. The brokerage set a “buy” rating and a $225.00 price target on the real estate investment trust’s stock. BTIG Research’s target price points to a potential upside of 24.46% from the stock’s previous close.

MAA has been the subject of a number of other reports. StockNews.com assumed coverage on shares of Mid-America Apartment Communities in a report on Thursday, March 31st. They set a “hold” rating for the company. Mizuho cut their price target on shares of Mid-America Apartment Communities from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Wednesday, February 16th. Truist Financial cut their target price on shares of Mid-America Apartment Communities from $231.00 to $220.00 in a research note on Thursday, March 3rd. Piper Sandler reduced their price objective on Mid-America Apartment Communities from $240.00 to $230.00 in a research note on Wednesday, May 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Mid-America Apartment Communities from $210.00 to $238.00 in a report on Tuesday, January 18th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities has an average rating of “Buy” and a consensus target price of $211.00.

NYSE:MAA traded down $3.77 during midday trading on Monday, hitting $180.78. 4,962 shares of the stock were exchanged, compared to its average volume of 678,453. Mid-America Apartment Communities has a one year low of $154.07 and a one year high of $231.63. The company has a market capitalization of $20.87 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 11.43 and a beta of 0.73. The business has a 50-day moving average price of $206.26 and a two-hundred day moving average price of $208.97. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.13. Mid-America Apartment Communities had a return on equity of 9.77% and a net margin of 32.66%. During the same period in the prior year, the firm posted $1.64 EPS. Sell-side analysts forecast that Mid-America Apartment Communities will post 8.07 EPS for the current fiscal year.

In other Mid-America Apartment Communities news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $202.50, for a total transaction of $4,050,000.00. Following the sale, the chief operating officer now directly owns 44,983 shares of the company’s stock, valued at $9,109,057.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.34% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Mid-America Apartment Communities by 6.9% during the fourth quarter. BlackRock Inc. now owns 12,596,863 shares of the real estate investment trust’s stock worth $2,890,225,000 after acquiring an additional 807,830 shares in the last quarter. State Street Corp boosted its holdings in shares of Mid-America Apartment Communities by 8.1% during the 4th quarter. State Street Corp now owns 7,333,395 shares of the real estate investment trust’s stock worth $1,682,574,000 after buying an additional 546,867 shares during the period. Norges Bank bought a new position in Mid-America Apartment Communities in the 4th quarter valued at about $656,403,000. Geode Capital Management LLC lifted its position in Mid-America Apartment Communities by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 2,484,415 shares of the real estate investment trust’s stock worth $568,757,000 after acquiring an additional 52,181 shares during the last quarter. Finally, PGGM Investments boosted its holdings in shares of Mid-America Apartment Communities by 865.4% during the fourth quarter. PGGM Investments now owns 2,313,922 shares of the real estate investment trust’s stock worth $530,906,000 after acquiring an additional 2,074,236 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile (Get Rating)

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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