Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded today at $182.76, eclipsing its 52-week high. Approximately 107,000 shares have changed hands today, as compared to an average 30-day volume of 604,000 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. share prices have moved between a 52-week high of $182.76 and a 52-week low of $108.63 and are now trading 67% above that low price at $181.48 per share.
Mid-America Apartment Communities Inc. (NYSE:MAA) is currently priced 7.9% above its average consensus analyst price target of $167.20.
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