Mid-America Aptmt (NYSE:MAA) Receives a Downgrade
In analysts report issued to investors and clients on Wednesday morning, equity analysts at KeyBanc Capital Mkts’s division of equities lowered the rating for Mid-America Aptmt (NYSE:MAA) shares from the previous Overweight to a Sector Weight.
From a total of 18 analysts covering Mid-America Apartment Communities (NYSE:MAA) stock, 11 rate it a ”Buy”, 1 a “Sell”, and 9 a ”Hold”. This means that 52% of the ratings are positive. The highest target price is $98 while the lowest target price is $81. The mean of all analyst targets is $90.78 with a -1.25% below today’s ($90.63) stock price. Mid-America Apartment Communities was the topic of 17 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. BB&T Capital initiated shares on November 10 with “Hold” rating. Zacks upgraded shares to “Hold” rating and $87 target share price in a report from an August 25. DA Davidson initiated MAA stock in a recent report from September 18 with “Buy” rating. SunTrust initiated the rating on July 21. SunTrust has a “Buy” rating and a $88 price target on shares. Finally, Zacks downgraded the stock to “Buy” rating in a report issued on an August 27.
Approximately 96,710 shares of stock traded hands. Mid-America Apartment Communities Inc (NYSE:MAA) has risen 20.88% since May 13, 2015 and is uptrending. It has outperformed by 23.50% the S&P500.
The overall sentiment of institutions has decreased to 1.15 in Q2 2015. Its down 0.07, from 1.22 in 2015Q2. The ratio dropped, as 32 institutions have sold all the shares of Mid-America Apartment Communities Inc that they owned while 105 funds have taken shares off the table. 42 funds have purchased shares for the first time while 115 added to their positions. These institutions now hold 60.28 million shares or 14.59% less than the 70.58 million shares they owned in 2015Q2.
The Fund Real Estate Management Services Llc currently is holding shares equating to 4.01% of its total portfolio in Mid-America Apartment Communities Inc representing a total of 316,400 shares. Another fund,Breton Hill Capital Ltd., is holding a total of 87,337 shares equating to 3.14% of their holdings. Additionally, Kempen Capital Management N.V. has a 294,021 share stake in Mid-America Apartment Communities Inc which represents 2.93% of their total portfolio. The Fund, Kuntz Lesher Capital Llc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 2.66% of their total portfolio. Finally Eagle Capital Management Llc, a fund which is based in the state of Alabama reported a total holdings of 27,233 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 5, 2015, shareholders of Mid-America Apartment Communities Inc have witnessed 0 insider buys, and a total of 1 sale equating to a net activity of approximately $80,775 . Delpriore Robert J. sold 1,040 shares worth approximately $80,775. Wright Edward Thomas sold 8,640 shares worth approximately $656,640. Shorb Gary bought 1,000 shares worth approximately $76,304.
Mid-America Apartment Communities, Inc. is a multifamily focused, self-administered and self-managed Real Estate Investment Trust . The company has a market cap of $6.83 billion. The Firm is the general partner of Mid-America Apartments, L.P. It has 21.11 P/E ratio. The Firm owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States.
According to Zacks Investment Research, “Mid America Apartment Communities Inc. is a real estate investment trust which ownes and operates apartments. The company also manages but does not own properties containing apartment units. The company seeks to acquire and develop apartment communities appealing to middle and upper income residents.”