Mid-America Apartment Communities (NYSE:MAA) Raised to Overweight at KeyCorp

Mid-America Apartment Communities (NYSE:MAA) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat reports. The brokerage presently has a $180.00 price target on the real estate investment trust’s stock. KeyCorp’s price target would suggest a potential upside of 19.31% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Sandler increased their target price on 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. Royal Bank of Canada lowered 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 note on Friday, November 1st. Scotiabank cut their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target for the company in a research report on Monday, October 21st. Finally, Truist Financial upped their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus price target of $163.76.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $150.87 on Tuesday. The business’s fifty day simple moving average is $156.99 and its 200-day simple moving average is $152.24. 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 firm has a market cap of $17.63 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. Mid-America Apartment Communities has a 52 week low of $121.51 and a 52 week high of $167.39.

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

Institutional Trading of Mid-America Apartment Communities

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