Mid-America Apartment Communities (NYSE:MAA) Reaches New 52-Week High at $161.24

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) reached a new 52-week high on Wednesday . The stock traded as high as $161.24 and last traded at $160.73, with a volume of 25867 shares traded. The stock had previously closed at $160.31.

Analyst Ratings Changes

MAA has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday. Truist Financial boosted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their target price for the company from $144.00 to $189.00 in a research report on Monday, August 12th. UBS Group boosted their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada raised their price objective on Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and a consensus target price of $154.66.

Mid-America Apartment Communities Price Performance

The company’s 50-day moving average price is $146.55 and its two-hundred day moving average price is $136.78. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $18.82 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 3.27 and a beta of 0.85.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds have recently bought and sold shares of the stock. Truist Financial Corp lifted its holdings in Mid-America Apartment Communities by 0.7% during the 4th quarter. Truist Financial Corp now owns 45,577 shares of the real estate investment trust’s stock worth $6,128,000 after purchasing an additional 332 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Mid-America Apartment Communities by 14.8% during the fourth quarter. Van ECK Associates Corp now owns 47,699 shares of the real estate investment trust’s stock worth $6,414,000 after buying an additional 6,155 shares in the last quarter. Cannell & Co. bought a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at about $202,000. New York Life Investment Management LLC boosted its position in shares of Mid-America Apartment Communities by 72.0% in the fourth quarter. New York Life Investment Management LLC now owns 35,300 shares of the real estate investment trust’s stock valued at $4,746,000 after acquiring an additional 14,776 shares during the period. Finally, Natixis Advisors L.P. grew its stake in shares of Mid-America Apartment Communities by 42.4% in the fourth quarter. Natixis Advisors L.P. now owns 31,266 shares of the real estate investment trust’s stock valued at $4,204,000 after acquiring an additional 9,306 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

About Mid-America Apartment Communities

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.