Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded today at $188.34, eclipsing its 52-week high. This new high was reached on below average trading volume as 152,000 shares traded hands, while the average 30-day volume is approximately 575,000 shares.
In the past 52 weeks, shares of Mid-America Apartment Communities Inc. have traded between a low of $109.06 and a high of $188.34 and is now at $187.93, which is 72% above that low price.
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) is currently priced 4.5% above its average consensus analyst price target of $179.52.
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