Mid-America Apartment Communities (NYSE:MAA) Given New $128.00 Price Target at UBS Group

Mid-America Apartment Communities (NYSE:MAA) had its price objective upped by UBS Group from $123.00 to $128.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s price target indicates a potential upside of 7.71% from the company’s current price.

Several other research analysts also recently commented on MAA. Scotiabank decreased their target price on shares of Mid-America Apartment Communities from $134.00 to $125.00 and set a “sector underperform” rating on the stock in a research note on Thursday, September 17th. Wall Street Zen cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Sunday, October 25th. Royal Bank Of Canada dropped their price target on shares of Mid-America Apartment Communities from $138.00 to $127.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 13th. Citigroup reissued a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Friday, October 30th. Finally, KeyCorp restated an “overweight” rating on shares of Mid-America Apartment Communities in a research report on Tuesday, September 29th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $137.59.

Mid-America Apartment Communities Trading Down 0.5%

MAA stock traded down $0.56 during trading on Tuesday, hitting $118.84. 372,162 shares of the company traded hands, compared to its average volume of 1,014,957. The company has a 50-day moving average of $120.01 and a 200-day moving average of $128.70. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.11 and a current ratio of 0.11. Mid-America Apartment Communities has a 1 year low of $113.95 and a 1 year high of $144.41. The firm has a market capitalization of $13.78 billion, a PE ratio of 36.00 and a beta of 0.71.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The company had revenue of $560.13 million during the quarter, compared to analysts’ expectations of $558.07 million. During the same period last year, the firm earned $2.16 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts predict that Mid-America Apartment Communities will post 8.50 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Adrian Hill purchased 844 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average price of $118.35 per share, for a total transaction of $99,887.40. Following the completion of the acquisition, the executive vice president directly owned 65,277 shares in the company, valued at approximately $7,725,532.95. The trade was a 1.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC boosted its position in Mid-America Apartment Communities by 0.9% during the 3rd quarter. Voya Investment Management LLC now owns 23,097 shares of the real estate investment trust’s stock valued at $2,719,000 after acquiring an additional 217 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of Mid-America Apartment Communities by 4.4% in the 3rd quarter. Cibc World Market Inc. now owns 34,641 shares of the real estate investment trust’s stock valued at $4,079,000 after purchasing an additional 1,465 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Mid-America Apartment Communities by 51.8% during the third quarter. Hantz Financial Services Inc. now owns 1,978 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 675 shares in the last quarter. Danske Bank A S boosted its position in shares of Mid-America Apartment Communities by 1.2% during the third quarter. Danske Bank A S now owns 77,660 shares of the real estate investment trust’s stock valued at $9,144,000 after purchasing an additional 900 shares in the last quarter. Finally, Hamel Associates Inc. grew its stake in Mid-America Apartment Communities by 45.1% in the third quarter. Hamel Associates Inc. now owns 7,820 shares of the real estate investment trust’s stock worth $921,000 after purchasing an additional 2,430 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities. The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas. Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H. Eric Bolton Jr. since 2001.