Mid-America Apartment Communities (NYSE:MAA) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Mid-America Apartment Communities from “sell” to “hold,” while analysts overall maintain an average “Hold” rating and a $145.38 price target.
• MAA shares opened at $134.90, up 1.0%, with a 12-month trading range of $120.30 to $146.41 and a market capitalization of approximately $15.65 billion.
• Institutional investors own 93.6% of the company, while an MAA director recently purchased 1,100 shares at an average price of $128.55.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other equities analysts have also weighed in on the company. Piper Sandler reduced their price objective on Mid-America Apartment Communities from $143.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, July 31st. Truist Financial increased their target price on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Citigroup restated a "market outperform" rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 10th. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Finally, Barclays raised their target price on shares of Mid-America Apartment Communities from $139.00 to $147.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $145.38.

Mid-America Apartment Communities Trading Up 1.0%

NYSE MAA opened at $134.90 on Friday. Mid-America Apartment Communities has a 12 month low of $120.30 and a 12 month high of $146.41. The company has a 50-day moving average of $135.60 and a 200-day moving average of $131.72. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $15.65 billion, a P/E ratio of 39.44 and a beta of 0.73.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, Director Tamara D. Fischer acquired 1,100 shares of the company's stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the acquisition, the director directly owned 1,100 shares of the company's stock, valued at $141,405. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds and other institutional investors have recently modified their holdings of MAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Mid-America Apartment Communities by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,821 shares of the real estate investment trust's stock worth $2,149,000 after acquiring an additional 620 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Mid-America Apartment Communities by 47.6% in the second quarter. EverSource Wealth Advisors LLC now owns 927 shares of the real estate investment trust's stock worth $137,000 after purchasing an additional 299 shares during the period. Baird Financial Group Inc. lifted its holdings in Mid-America Apartment Communities by 7.1% in the second quarter. Baird Financial Group Inc. now owns 6,595 shares of the real estate investment trust's stock worth $976,000 after purchasing an additional 437 shares during the period. Walleye Capital LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $230,000. Finally, Bank of Nova Scotia grew its position in Mid-America Apartment Communities by 21.7% in the 2nd quarter. Bank of Nova Scotia now owns 15,538 shares of the real estate investment trust's stock valued at $2,300,000 after buying an additional 2,771 shares in the last quarter. 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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