Investment analysts at Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $149.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 11.20% from the stock’s previous close.
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MAA has been the subject of a number of other reports. ValuEngine lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. SunTrust Banks increased their price target on Mid-America Apartment Communities to $130.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Capital One Financial raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 4th. Barclays set a $141.00 price target on Mid-America Apartment Communities and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, KeyCorp increased their price target on Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $126.75.
Mid-America Apartment Communities stock traded down $1.27 during midday trading on Friday, reaching $133.99. 461,365 shares of the stock traded hands, compared to its average volume of 522,704. The stock’s fifty day moving average is $133.48 and its 200-day moving average is $122.59. Mid-America Apartment Communities has a 12 month low of $91.21 and a 12 month high of $140.15. The stock has a market cap of $15.47 billion, a P/E ratio of 22.18, a PEG ratio of 5.38 and a beta of 0.33. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.72.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.87). Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The firm had revenue of $415.63 million for the quarter, compared to the consensus estimate of $411.16 million. During the same period in the previous year, the company posted $1.50 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Mid-America Apartment Communities will post 6.46 EPS for the current fiscal year.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total transaction of $682,300.00. Following the sale, the director now directly owns 68,778 shares in the company, valued at $9,385,445.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of MAA. Amundi Pioneer Asset Management Inc. raised its position in Mid-America Apartment Communities by 18.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 140,458 shares of the real estate investment trust’s stock valued at $15,357,000 after purchasing an additional 21,688 shares during the period. South Texas Money Management Ltd. purchased a new stake in Mid-America Apartment Communities during the second quarter valued at approximately $221,000. Farmers Trust Co. purchased a new stake in Mid-America Apartment Communities during the second quarter valued at approximately $1,881,000. Hexavest Inc. purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth approximately $24,133,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth approximately $477,000. Institutional investors and hedge funds own 93.19% of the company’s stock.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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