Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $211.00 at Barclays

Mid-America Apartment Communities (NYSE:MAAGet Rating) had its price objective lowered by equities researchers at Barclays from $238.00 to $211.00 in a note issued to investors on Tuesday, The Fly reports. Barclays‘s target price would suggest a potential upside of 18.85% from the stock’s current price.

MAA has been the subject of several other reports. Mizuho decreased their price target on shares of Mid-America Apartment Communities from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. Piper Sandler decreased their price target on shares of Mid-America Apartment Communities from $240.00 to $230.00 in a report on Wednesday, May 4th. BTIG Research began coverage on shares of Mid-America Apartment Communities in a report on Monday. They issued a “buy” rating and a $225.00 price target for the company. StockNews.com began coverage on shares of Mid-America Apartment Communities in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Truist Financial decreased their price target on shares of Mid-America Apartment Communities from $231.00 to $220.00 in a report on Thursday, March 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $211.09.

MAA opened at $177.54 on Tuesday. The company has a 50-day moving average of $205.74 and a 200-day moving average of $208.80. The company has a market capitalization of $20.49 billion, a P/E ratio of 34.41, a PEG ratio of 11.43 and a beta of 0.73. Mid-America Apartment Communities has a 1-year low of $154.07 and a 1-year high of $231.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.14 and a current ratio of 0.14.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.13. Mid-America Apartment Communities had a net margin of 32.66% and a return on equity of 9.77%. During the same period in the prior year, the company posted $1.64 earnings per share. As a group, sell-side analysts expect that Mid-America Apartment Communities will post 8.07 earnings per share for the current fiscal year.

In other news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $202.50, for a total value of $4,050,000.00. Following the completion of the sale, the chief operating officer now directly owns 44,983 shares of the company’s stock, valued at approximately $9,109,057.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.34% of the company’s stock.

Several large investors have recently modified their holdings of MAA. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Mid-America Apartment Communities by 18.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 140,458 shares of the real estate investment trust’s stock worth $15,357,000 after acquiring an additional 21,688 shares during the period. Morgan Stanley lifted its stake in shares of Mid-America Apartment Communities by 162.0% in the 2nd quarter. Morgan Stanley now owns 430,122 shares of the real estate investment trust’s stock worth $72,441,000 after acquiring an additional 265,978 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Mid-America Apartment Communities by 29.1% in the 3rd quarter. Mackenzie Financial Corp now owns 11,073 shares of the real estate investment trust’s stock worth $2,068,000 after purchasing an additional 2,493 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Mid-America Apartment Communities by 24.8% in the 3rd quarter. TD Asset Management Inc. now owns 51,628 shares of the real estate investment trust’s stock worth $9,642,000 after purchasing an additional 10,244 shares in the last quarter. Finally, JustInvest LLC raised its holdings in shares of Mid-America Apartment Communities by 20.9% in the 3rd quarter. JustInvest LLC now owns 3,545 shares of the real estate investment trust’s stock worth $662,000 after purchasing an additional 614 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

About Mid-America Apartment Communities (Get Rating)

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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