In a report issued on June 23, Wes Golladay from Robert W. Baird maintained a Hold rating on Mid-America Apartment (MAA – Research Report), with a price target of $189.00. The company’s shares closed last Monday at $173.63.
According to TipRanks.com, Golladay is a 5-star analyst with an average return of 7.1% and a 60.7% success rate. Golladay covers the Financial sector, focusing on stocks such as National Storage Affiliates, National Retail Properties, and Four Corners Property.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mid-America Apartment with a $206.42 average price target, representing a 19.9% upside. In a report issued on June 22, RBC Capital also maintained a Hold rating on the stock with a $180.00 price target.
Based on Mid-America Apartment’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $476 million and net profit of $111 million. In comparison, last year the company earned revenue of $425 million and had a net profit of $47.19 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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. 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.
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