(MENAFN- Investor Brand Network) Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded at a new 52-week high today of $209.76. So far today approximately 121,000 shares have been exchanged, as compared to an average 30-day volume of 406,000 shares.
Over the past year, Mid-America Apartment Communities Inc. has traded in a range of $119.21 to $209.76 and is now at $209.01, 75% above that low.
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.
Based on a current price of $209.01, Mid-America Apartment Communities Inc. is currently 41.6% above its average consensus analyst price target of $122.10.
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