Mid-America Apartment Communities (NYSE:MAA) Upgraded at KeyCorp

Mid-America Apartment Communities (NYSE:MAA) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Tuesday. The brokerage presently has a $180.00 price target on the real estate investment trust’s stock. KeyCorp’s price objective indicates a potential upside of 13.51% from the company’s current price.

Other analysts have also recently issued reports about the company. Piper Sandler upped their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada cut their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $138.00 to $174.00 in a report on Monday, August 26th. BNP Paribas began 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. Finally, Scotiabank decreased their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $163.76.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock opened at $158.57 on Tuesday. The firm has a market cap of $18.53 billion, a PE ratio of 35.79, a P/E/G ratio of 2.55 and a beta of 0.90. Mid-America Apartment Communities has a twelve month low of $121.51 and a twelve month high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $156.93 and a 200 day moving average price of $152.08.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. Sell-side analysts predict that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of large investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the second quarter valued at about $26,000. Activest Wealth Management acquired a new stake in Mid-America Apartment Communities during the 3rd quarter valued at approximately $32,000. Catalyst Capital Advisors LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth approximately $37,000. Finally, UMB Bank n.a. raised its position in shares of Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. 93.60% of the stock is 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.