Mid-America Apartment Communities (NYSE:MAA) Rating Increased to Strong-Buy at Raymond James

Mid-America Apartment Communities (NYSE:MAA) was upgraded by analysts at Raymond James from a “market perform” rating to a “strong-buy” rating in a research note issued on Monday, Briefing.com reports. The firm currently has a $175.00 price target on the real estate investment trust’s stock. Raymond James’ price target indicates a potential upside of 13.20% from the company’s current price.

A number of other equities research analysts have also commented on the company. Scotiabank upped their price target on Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price for the company. Wedbush boosted their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Moderate Buy” and an average price target of $160.75.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $154.59 on Monday. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 2.47 and a beta of 0.88. Mid-America Apartment Communities has a twelve month low of $115.56 and a twelve month high of $167.39. The company’s fifty day moving average is $158.19 and its 200 day moving average is $144.55. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Mid-America Apartment Communities by 323.8% during the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock valued at $5,430,000 after acquiring an additional 30,855 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its position in Mid-America Apartment Communities by 172.5% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 16,154 shares of the real estate investment trust’s stock worth $2,126,000 after purchasing an additional 10,227 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Mid-America Apartment Communities by 531.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the real estate investment trust’s stock valued at $5,831,000 after buying an additional 37,299 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Mid-America Apartment Communities by 12.8% during the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock worth $4,352,000 after buying an additional 3,451 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Mid-America Apartment Communities in the 1st quarter worth approximately $26,107,000. 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.