Credit Suisse Group Begins Coverage on Mid-America Apartment Communities (NYSE:MAA)

Analysts at Credit Suisse Group assumed coverage on shares of Mid-America Apartment Communities (NYSE:MAAGet Rating) in a research report issued on Wednesday, The Fly reports. The firm set an “outperform” rating and a $195.00 price target on the real estate investment trust’s stock. Credit Suisse Group’s target price suggests a potential upside of 14.62% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com began coverage on shares of Mid-America Apartment Communities in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler cut their price objective on Mid-America Apartment Communities from $240.00 to $230.00 in a report on Wednesday, May 4th. Barclays decreased their target price on Mid-America Apartment Communities from $238.00 to $211.00 in a research report on Tuesday, May 10th. Scotiabank decreased their price objective on Mid-America Apartment Communities from $231.00 to $226.00 in a report on Thursday, May 19th. Finally, Truist Financial reduced their target price on Mid-America Apartment Communities from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Tuesday, May 24th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and a consensus price target of $213.17.

Shares of MAA stock opened at $170.13 on Wednesday. Mid-America Apartment Communities has a 12 month low of $158.85 and a 12 month high of $231.63. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.74. The firm has a market cap of $19.64 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 10.02 and a beta of 0.74. The stock has a 50 day moving average of $182.06 and a 200-day moving average of $201.63.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.13. Mid-America Apartment Communities had a return on equity of 9.77% and a net margin of 32.66%. During the same quarter in the previous year, the firm earned $1.64 earnings per share. As a group, equities analysts predict that Mid-America Apartment Communities will post 8.17 EPS for the current fiscal year.

In related news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the company’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $202.50, for a total value of $4,050,000.00. Following the sale, the chief operating officer now directly owns 44,983 shares of the company’s stock, valued at $9,109,057.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.34% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of MAA. Man Group plc purchased a new stake in Mid-America Apartment Communities during the third quarter valued at about $840,000. MML Investors Services LLC raised its holdings in Mid-America Apartment Communities by 28.4% in the 3rd quarter. MML Investors Services LLC now owns 4,135 shares of the real estate investment trust’s stock worth $772,000 after acquiring an additional 915 shares during the period. United Capital Financial Advisers LLC lifted its position in shares of Mid-America Apartment Communities by 183.6% during the 3rd quarter. United Capital Financial Advisers LLC now owns 7,295 shares of the real estate investment trust’s stock worth $1,362,000 after purchasing an additional 4,723 shares during the last quarter. UBS Group AG boosted its position in shares of Mid-America Apartment Communities by 37.5% in the third quarter. UBS Group AG now owns 270,103 shares of the real estate investment trust’s stock valued at $50,442,000 after acquiring an additional 73,711 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in Mid-America Apartment Communities in the 3rd quarter worth $1,382,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Mid-America Apartment Communities Company Profile (Get Rating)

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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