BTIG analyst James W Sullivan reiterated a Hold rating on Mid-America Apartment (MAA) yesterday. The company’s shares closed last Wednesday at $154.02, close to its 52-week high of $157.65.
According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 11.2% and a 65.2% success rate. Sullivan covers the Financial sector, focusing on stocks such as Bluerock Residential Growth, Host Hotels & Resorts, and Independence Realty.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mid-America Apartment with a $148.57 average price target, implying a -4.3% downside from current levels. In a report released yesterday, Colliers Securities also initiated coverage with a Hold rating on the stock with a $170.00 price target.
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Based on Mid-America Apartment’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $424 million and net profit of $83.34 million. In comparison, last year the company earned revenue of $417 million and had a net profit of $150 million.
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Mid-America Apartment Communities, Inc. is a real estate investment trust. The firm engages in the operation, acquisition and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned. The Non-Same Store and Other segment include recent acquisitions, communities in development or lease-up. The company was founded in 1994 and is headquartered in Memphis, TN.
