Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $147.00 at Morgan Stanley

Mid-America Apartment Communities (NYSE:MAA) had its price objective cut by Morgan Stanley from $155.00 to $147.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price would suggest a potential upside of 11.46% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup restated a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 10th. Barclays increased their price target on Mid-America Apartment Communities from $139.00 to $147.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. BNP Paribas Exane upgraded Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research note on Tuesday. UBS Group cut their price target on shares of 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. Finally, Mizuho increased their price objective on Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus target price of $144.88.

Mid-America Apartment Communities Trading Up 0.1%

Shares of NYSE MAA traded up $0.14 during mid-day trading on Wednesday, hitting $131.88. The company’s stock had a trading volume of 137,116 shares, compared to its average volume of 999,565. Mid-America Apartment Communities has a one year low of $120.30 and a one year high of $146.41. The company’s fifty day simple moving average is $135.74 and its 200-day simple moving average is $131.64. 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 stock has a market cap of $15.30 billion, a price-to-earnings ratio of 38.56 and a beta of 0.73.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, Director Tamara D. Fischer bought 1,100 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was purchased at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the purchase, the director directly owned 1,100 shares of the company’s stock, valued at approximately $141,405. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAA. BlackRock Inc. bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at approximately $1,820,661,000. Norges Bank bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at $750,603,000. Viking Global Investors LP bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Mid-America Apartment Communities by 621.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock worth $168,805,000 after purchasing an additional 1,040,525 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Mid-America Apartment Communities by 3,129.2% in the fourth quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock valued at $102,525,000 after buying an additional 715,209 shares during the period. 93.60% of the stock is currently owned by institutional investors.

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.