Scotiabank Raises Mid-America Apartment Communities (NYSE:MAA) Price Target to $174.00

Mid-America Apartment Communities (NYSE:MAA) had its target price boosted by Scotiabank from $161.00 to $174.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Several other research analysts have also recently commented on MAA. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a buy rating and a $187.00 target price for the company. Mizuho upped 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 research report on Thursday, May 30th. BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a neutral rating and a $169.00 price target for the company. Piper Sandler upped their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a neutral rating in a research note on Monday, August 26th. Finally, Wedbush upped their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an outperform rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities presently has an average rating of Hold and a consensus target price of $159.91.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $163.92 on Monday. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $167.39. 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 stock has a market cap of $19.15 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 3.66 and a beta of 0.88. The company has a 50-day moving average price of $152.47 and a two-hundred day moving average price of $140.30.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $713,500,000. Massachusetts Financial Services Co. MA lifted its position in shares of Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after acquiring an additional 393,067 shares in the last quarter. Blackstone Inc. lifted its position in shares of Mid-America Apartment Communities by 1.0% in the 4th quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock valued at $277,507,000 after acquiring an additional 20,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mid-America Apartment Communities by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock valued at $244,803,000 after acquiring an additional 97,672 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Mid-America Apartment Communities by 2.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock valued at $234,497,000 after acquiring an additional 44,621 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

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.