Mid-America Apartment Communities (NYSE:MAA) Given New $194.00 Price Target at Scotiabank

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its target price upped by equities researchers at Scotiabank from $182.00 to $194.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price target points to a potential upside of 19.04% from the stock's current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada increased their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. BMO Capital Markets lowered their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research note on Tuesday, January 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $160.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and raised their price objective for the company from $148.00 to $190.00 in a research note on Monday, March 10th. Finally, Evercore ISI raised their price objective on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.55.

Mid-America Apartment Communities Stock Performance

MAA stock traded down $0.05 during trading on Monday, reaching $162.97. The stock had a trading volume of 194,059 shares, compared to its average volume of 732,402. Mid-America Apartment Communities has a 52 week low of $126.77 and a 52 week high of $176.02. The stock's 50 day moving average is $161.03 and its two-hundred day moving average is $157.84. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market cap of $19.08 billion, a PE ratio of 36.38, a PEG ratio of 3.72 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. The business had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.22 earnings per share. As a group, equities analysts anticipate that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Insider Buying and Selling

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the sale, the chief executive officer now directly owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,313 shares of company stock valued at $1,171,707. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC increased its holdings in shares of Mid-America Apartment Communities by 107.1% in the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 91 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Mid-America Apartment Communities in the first quarter valued at approximately $38,000. CoreCap Advisors LLC increased its holdings in shares of Mid-America Apartment Communities by 94.9% in the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 112 shares during the period. GoalVest Advisory LLC increased its holdings in shares of Mid-America Apartment Communities by 200.0% in the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 160 shares during the period. Finally, IFP Advisors Inc grew its holdings in Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 68 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.

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