Cantor Fitzgerald Gives a Buy Rating to Mid-America Apartment

By Carrie Williams

In a report released yesterday, Gaurav Mehta from Cantor Fitzgerald assigned a Buy rating to Mid-America Apartment (NYSE: MAA), with a price target of $110. The company’s shares closed yesterday at $106.03.

Mehta said:

“Markets with improving fundamentals in 2018 could include Austin, Charleston, Charlotte, Houston, Nashville, Raleigh, Tampa and Washington, D.C.; markets that could have moderating fundamentals include Atlanta, Dallas-Ft. Worth, Jacksonville, Orlando and Phoenix (based on jobs/ completions).”

According to TipRanks.com, Mehta is a 4-star analyst with an average return of 5.9% and a 64.4% success rate. Mehta covers the Financial sector, focusing on stocks such as Ashford Hospitality Trust, Summit Hotel Properties, and Host Hotels & Resorts.

Currently, the analyst consensus on Mid-America Apartment is Strong Buy and the average price target is $111.27, representing a 4.9% upside.

In a report issued on November 1, SunTrust Robinson also reiterated a Buy rating on the stock with a $109 price target.

Based on Mid-America Apartment’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $385 million and quarterly net profit of $115 million. In comparison, last year the company earned revenue of $276 million and had a net profit of $84.03 million.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is neutral 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.