Raymond James Issues Positive Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA) had its price objective increased by investment analysts at Raymond James from $180.00 to $185.00 in a report released on Thursday,Benzinga reports. The firm presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price target indicates a potential upside of 14.77% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Mizuho decreased their target price on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and lifted their price objective for the company from $148.00 to $190.00 in a research report on Monday, March 10th. Finally, StockNews.com upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.90.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $161.19 on Thursday. The firm’s 50-day moving average price is $158.21 and its 200-day moving average price is $157.52. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a market cap of $18.84 billion, a PE ratio of 35.98, a PEG ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities has a 52-week low of $123.73 and a 52-week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. As a group, analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Institutional Investors Weigh In On Mid-America Apartment Communities

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Mid-America Apartment Communities by 19.6% in the 3rd quarter. Victory Capital Management Inc. now owns 42,886 shares of the real estate investment trust’s stock worth $6,815,000 after purchasing an additional 7,020 shares in the last quarter. Empowered Funds LLC boosted its position in Mid-America Apartment Communities by 39.5% in the 3rd quarter. Empowered Funds LLC now owns 2,624 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 743 shares in the last quarter. Quest Partners LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $164,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $1,140,000. Finally, PNC Financial Services Group Inc. boosted its position in Mid-America Apartment Communities by 12.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,398 shares of the real estate investment trust’s stock worth $2,288,000 after purchasing an additional 1,618 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

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.