Mid-America Apartment Communities (NYSE:MAA) Sets New 1-Year High on Analyst Upgrade

Mid-America Apartment Communities, Inc. (NYSE:MAA)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $139.00 to $163.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Mid-America Apartment Communities traded as high as $165.95 and last traded at $163.51, with a volume of 348092 shares. The stock had previously closed at $160.30.

MAA has been the topic of a number of other reports. Mizuho boosted their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. UBS Group upped their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a report on Thursday, July 18th. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. JMP Securities raised their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Finally, Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their price target for the company from $144.00 to $189.00 in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.15.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAA. Johnson Investment Counsel Inc. increased its stake in shares of Mid-America Apartment Communities by 1.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 77 shares during the last quarter. Telos Capital Management Inc. raised its holdings in Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after buying an additional 78 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 90 shares in the last quarter. Covestor Ltd lifted its position in shares of Mid-America Apartment Communities by 12.3% in the first quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 93 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of Mid-America Apartment Communities by 0.5% during the 1st quarter. Czech National Bank now owns 20,536 shares of the real estate investment trust’s stock worth $2,702,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

The stock has a fifty day moving average price of $150.37 and a 200 day moving average price of $139.08. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 3.55 and a beta of 0.88.

Mid-America Apartment Communities Company Profile

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.