In a report released yesterday, Richard Anderson from Mizuho Securities reiterated a Hold rating on Mid-America Apartment (NYSE: MAA), with a price target of $108. The company’s shares closed on Friday at $101.85.
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 6.3% and a 73.3% success rate. Anderson covers the Financial sector, focusing on stocks such as Apartment Investment & Management, First Industrial Realty Trust, and Hudson Pacific Properties.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mid-America Apartment with a $104.60 average price target, representing a 2.7% upside. In a report issued on August 2, Stifel Nicolaus also downgraded the stock to Hold with a $100 price target.
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Based on Mid-America Apartment’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $59.73 million. In comparison, last year the company had a net profit of $48.24 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MAA in relation to earlier this year.
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Mid-America Apartment Communities, Inc. is a real estate investment trust, which owns and manages apartments in the Sunbelt region of the United States. It operates through the following segments: Large Market Same Store Communities, Secondary Market Same Store Communities and Non Same Store Communities & Other.
