Jefferies Believes Mid-America Apartment (NYSE: MAA) Won’t Stop Here

Jefferies analyst Jonathan Petersen reiterated a Buy rating on Mid-America Apartment (NYSE: MAA) on October 9 and set a price target of $120. The company’s shares closed yesterday at $108.80, close to its 52-week high of $110.95.

According to TipRanks.com, Petersen is a 5-star analyst with an average return of 14.0% and a 76.4% success rate. Petersen covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Easterly Government Properties, and First Industrial Realty Trust.

Currently, the analyst consensus on Mid-America Apartment is Strong Buy and the average price target is $113.40, representing a 4.2% upside.

In a report issued on October 3, Robert W. Baird also reiterated a Buy rating on the stock with a $108 price target.

The company has a one-year high of $110.95 and a one-year low of $85.34. Currently, Mid-America Apartment has an average volume of 582.6K.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock.

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Mid-America Apartment Communities, Inc. is a real estate investment trust, which owns and manages apartments in the Sunbelt region of the United States. It operates through the following segments: Large Market Same Store Communities, Secondary Market Same Store Communities and Non Same Store Communities & Other.