Mid-America Apartment Communities’ (MAA) “Buy” Rating Reaffirmed at Royal Bank Of Canada

Mid-America Apartment Communities, Inc. (NYSE:MAA)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Friday. They currently have a $110.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s target price points to a potential upside of 6.39% from the stock’s previous close.

Other analysts have also issued reports about the company. Zacks Investment Research upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and set a $115.00 price target on shares of Mid-America Apartment Communities in a report on Monday, July 10th. ValuEngine upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BTIG Research upgraded Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price target on the stock in a report on Friday, September 8th. Finally, BidaskClub upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $108.92.

Shares of Mid-America Apartment Communities (MAA) traded up $0.28 during trading on Friday, reaching $103.39. The company had a trading volume of 459,663 shares, compared to its average volume of 660,291. The company has a market capitalization of $11,750.00, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.47 and a beta of 0.35. Mid-America Apartment Communities has a 1-year low of $87.59 and a 1-year high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.61. The business had revenue of $384.60 million for the quarter, compared to analyst estimates of $386.96 million. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. Mid-America Apartment Communities’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. equities analysts forecast that Mid-America Apartment Communities will post 5.91 EPS for the current fiscal year.

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In other news, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total value of $730,768.48. Following the completion of the transaction, the director now directly owns 77,180 shares in the company, valued at $8,207,321.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Reid Sanders purchased 7,000 shares of Mid-America Apartment Communities stock in a transaction dated Friday, October 27th. The stock was bought at an average price of $100.11 per share, with a total value of $700,770.00. Following the completion of the transaction, the director now owns 8,209 shares of the company’s stock, valued at approximately $821,802.99. The disclosure for this purchase can be found here. Insiders own 1.25% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. grew its position in shares of Mid-America Apartment Communities by 32.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 382 shares in the last quarter. Commerce Bank purchased a new position in Mid-America Apartment Communities during the second quarter worth about $223,000. Parametrica Management Ltd purchased a new position in Mid-America Apartment Communities during the third quarter worth about $236,000. BB&T Securities LLC purchased a new position in Mid-America Apartment Communities during the second quarter worth about $237,000. Finally, MAI Capital Management purchased a new position in Mid-America Apartment Communities during the second quarter worth about $247,000. Institutional investors own 90.99% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

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