Barclays Initiates Coverage on Mid-America Apartment Communities (NYSE:MAA)

Research analysts at Barclays started coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a report released on Tuesday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $166.00 price target on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 10.03% from the company’s previous close.

A number of other research analysts also recently issued reports on MAA. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research note on Monday, October 21st. The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price target for the company. Scotiabank cut their target price on 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. BNP Paribas started 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 price target for the company. Finally, Piper Sandler boosted their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus price target of $163.76.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $150.87 on Tuesday. The company has a 50 day moving average of $156.99 and a 200-day moving average of $152.24. 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 stock has a market capitalization of $17.63 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.55 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly 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). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same period in the previous year, the business posted $2.29 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Mid-America Apartment Communities will post 8.88 EPS 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 stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Mid-America Apartment Communities by 516.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock worth $170,694,000 after buying an additional 899,960 shares during the last quarter. Duquesne Family Office LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $91,868,000. Long Pond Capital LP increased its position in shares of Mid-America Apartment Communities by 550.9% during the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock valued at $92,270,000 after purchasing an additional 547,607 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Mid-America Apartment Communities by 17.5% during 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 purchasing an additional 393,067 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in shares of Mid-America Apartment Communities by 107.1% in the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after purchasing an additional 342,335 shares during the period. 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.