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Upgrade Alert for Mid-America Apartment Communities (MAA)

By David Diaz

Mid-America Apartment Communities (NYSE:MAA) was upgraded from Neutral to Buy at DA Davidson today. The stock closed yesterday at $90.55 on volume of 1.0 million shares, above average daily volume of 418,000.

Over the past year, Mid-America Apartment Communities has traded in a range of $72.51 to $110.01 and closed yesterday at $90.55, 25% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.6%.

Mid-America Apartment Communities, Inc. is a self-administered and self-managed real estate investment trust which owns, develops, acquires and operates multi family apartment communities in the southeast and midwest United States and Texas. In addition, the Company conducts third party property management, development and construction activities through its service corporation.

There is potential upside of 0.2% for shares of Mid-America Apartment Communities based on a current price of $90.55 and an average consensus analyst price target of $90.69. The stock should find resistance at its 50-day moving average (MA) of $97.83, as well as support at its 200-day MA of $88.39.

SmarTrend is monitoring the recent change of momentum in Mid-America Apartment Communities. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Mid-America Apartment Communities in search of a potential trend change.

Keywords: analyst upgrades/downgrades mid-america apartment communities

Ticker(s): MAA