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

Equities researchers at Barclays initiated coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a research report issued to clients and investors 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 would indicate a potential upside of 10.03% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Piper Sandler increased their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Finally, Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $163.76.

Mid-America Apartment Communities Trading Down 3.3 %

Shares of NYSE:MAA opened at $150.87 on Tuesday. The stock has a 50 day moving average of $156.99 and a 200 day moving average of $152.24. The company 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 12-month low of $121.51 and a 12-month high of $167.39. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

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 the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million for 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%. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 EPS. As a group, equities research analysts expect that Mid-America Apartment Communities will post 8.88 EPS for the current year.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several hedge funds have recently modified their holdings of the stock. Johnson Investment Counsel Inc. grew its position in Mid-America Apartment Communities by 1.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 77 shares during the last quarter. Telos Capital Management Inc. grew its holdings in shares of Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after buying an additional 78 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Mid-America Apartment Communities by 1.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock valued at $962,000 after acquiring an additional 82 shares during the period. First Commonwealth Financial Corp PA raised its stake in Mid-America Apartment Communities by 2.1% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 86 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Mid-America Apartment Communities by 6.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock worth $229,000 after acquiring an additional 87 shares during the period. 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.