Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded today at $186.15, eclipsing its 52-week high. So far today approximately 105,000 shares have been exchanged, as compared to an average 30-day volume of 581,000 shares.
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.
Mid-America Apartment Communities Inc. (NYSE:MAA) defies analysts with a current price ($185.93) 4.5% above its average consensus price target of $177.54.
In the past 52 weeks, shares of Mid-America Apartment Communities Inc. have traded between a low of $108.63 and a high of $186.15 and is now at $185.93, which is 71% above that low price.
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