Evercore ISI Begins Coverage on Mid-America Apartment Communities (NYSE:MAA)

Equities research analysts at Evercore ISI started coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set an “inline” rating and a $155.00 price target on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 5.47% from the stock’s previous close.

A number of other analysts also recently weighed in on MAA. Royal Bank of Canada reduced their target price on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Barclays initiated coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 target price for the company. BMO Capital Markets dropped their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, January 10th. Finally, StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus price target of $165.73.

Mid-America Apartment Communities Price Performance

MAA stock opened at $146.97 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a 1 year low of $121.51 and a 1 year high of $167.39. The firm has a 50-day moving average of $155.33 and a 200 day moving average of $154.33. The company has a market cap of $17.18 billion, a P/E ratio of 33.18, a PEG ratio of 2.37 and a beta of 0.91.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same period in the prior year, the company posted $2.29 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Mid-America Apartment Communities will post 8.89 EPS for the current year.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Mid-America Apartment Communities by 516.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock valued at $170,694,000 after buying an additional 899,960 shares during the period. Long Pond Capital LP boosted its stake in shares of Mid-America Apartment Communities by 550.9% during the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after acquiring an additional 547,607 shares during the last quarter. KBC Group NV increased its stake in shares of Mid-America Apartment Communities by 830.8% in the 3rd quarter. KBC Group NV now owns 125,785 shares of the real estate investment trust’s stock worth $19,987,000 after purchasing an additional 112,271 shares in the last quarter. APG Asset Management N.V. raised its holdings in Mid-America Apartment Communities by 2,086.4% in the 2nd quarter. APG Asset Management N.V. now owns 89,598 shares of the real estate investment trust’s stock worth $11,922,000 after purchasing an additional 85,500 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd purchased a new position in Mid-America Apartment Communities during the third quarter valued at $13,149,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.