Mid-America Apartment Communities (NYSE:MAA) Stock Rating Upgraded by BNP Paribas Exane

Key Points

• BNP Paribas Exane upgraded MAA from “strong sell” to “hold,” while analysts overall maintain a consensus “hold” rating and an average price target of $145.38.
• MAA shares opened at $131.90, below their 12-month high of $146.41; the company has a $15.3 billion market capitalization and a debt-to-equity ratio of 1.02.
• Institutional ownership remains high at 93.6%, with several major investors increasing their positions, and a company director recently purchased 1,100 shares.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) was upgraded by equities research analysts at BNP Paribas Exane from a "strong sell" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on MAA. UBS Group reduced their target price on Mid-America Apartment Communities from $134.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Truist Financial raised their price target on Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Weiss Ratings upgraded Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 20th. Morgan Stanley upped their price objective on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Finally, Jefferies Financial Group raised shares of Mid-America Apartment Communities to a "hold" rating in a research report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $145.38.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $131.90 on Tuesday. Mid-America Apartment Communities has a 12 month low of $120.30 and a 12 month high of $146.41. The stock has a fifty day moving average price of $135.74 and a 200-day moving average price of $131.64. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02. The firm has a market cap of $15.30 billion, a PE ratio of 38.57 and a beta of 0.73.

Insider Buying and Selling

In other news, Director Tamara D. Fischer purchased 1,100 shares of the company's stock in a transaction on Thursday, May 21st. The shares were acquired at an average price of $128.55 per share, for a total transaction of $141,405.00. Following the purchase, the director owned 1,100 shares in the company, valued at $141,405. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Large investors have recently bought and sold shares of the company. Algebris UK Ltd. raised its holdings in shares of Mid-America Apartment Communities by 27.5% during the fourth quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust's stock worth $18,358,000 after purchasing an additional 28,528 shares during the last quarter. Norges Bank purchased a new stake in Mid-America Apartment Communities in the fourth quarter valued at $750,603,000. Swiss Life Asset Management Ltd boosted its holdings in Mid-America Apartment Communities by 466.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 45,424 shares of the real estate investment trust's stock valued at $6,310,000 after purchasing an additional 37,405 shares during the last quarter. CWM LLC grew its position in Mid-America Apartment Communities by 17.3% during the 4th quarter. CWM LLC now owns 132,440 shares of the real estate investment trust's stock worth $18,397,000 after purchasing an additional 19,512 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Mid-America Apartment Communities by 29.5% during the 4th quarter. BNP Paribas Financial Markets now owns 246,786 shares of the real estate investment trust's stock worth $34,281,000 after purchasing an additional 56,224 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc NYSE: MAA is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA's portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.

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