Mid-America Apartment Communities Inc. (NYSE:MAA) traded at a new 52-week high today of $179.62. Approximately 88,000 shares have changed hands today, as compared to an average 30-day volume of 614,000 shares.
Based on a current price of $178.35, Mid-America Apartment Communities Inc. is currently 6.3% above its average consensus analyst price target of $167.20.
Mid-America Apartment Communities Inc, or MAA, is a real estate investment trust engaged in the acquisition, operation, and development of multifamily apartment communities primarily located in the southeastern and southwestern United States. The company’s real estate portfolio contains holdings in most of the states in these two regions. Specifically, the states of Texas, Florida, and North Carolina contain a majority of Mid-America Apartment’s total number of apartment units. The company derives nearly all of its income in the form of rental revenue from leases. Most of this income comes from its holdings in Texas, Florida, and North Carolina as well. MAA also has partial ownership and operation of a number of commercial properties as well.
In the past 52 weeks, shares of Mid-America Apartment Communities Inc. have traded between a low of $108.63 and a high of $179.62 and is now at $178.35, which is 64% above that low price.
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