Mid-America Apartment Communities (NYSE:MAA) Rating Lowered to Outperform at Raymond James

Mid-America Apartment Communities (NYSE:MAA) was downgraded by analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a $175.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $185.00. Raymond James’ target price points to a potential upside of 6.99% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Evercore ISI upped their price objective on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. StockNews.com raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Truist Financial raised their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Robert W. Baird boosted their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $169.09.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $163.57 on Thursday. The firm has a market cap of $19.15 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 3.72 and a beta of 0.80. The firm has a fifty day moving average price of $160.48 and a 200 day moving average price of $158.08. Mid-America Apartment Communities has a fifty-two week low of $126.77 and a fifty-two week high of $173.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. The business had revenue of $549.30 million for the quarter, compared to analysts’ expectations of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.22 EPS. As a group, sell-side analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,313 shares of company stock worth $1,171,707. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of large investors have recently made changes to their positions in MAA. Financial Network Wealth Advisors LLC acquired a new position in Mid-America Apartment Communities during the first quarter worth about $29,000. Larson Financial Group LLC grew its holdings in shares of Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 91 shares during the period. AlphaQuest LLC purchased a new position in Mid-America Apartment Communities in the 1st quarter valued at approximately $34,000. Zions Bancorporation National Association UT acquired a new position in Mid-America Apartment Communities during the first quarter worth $38,000. Finally, CoreCap Advisors LLC boosted its position in Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.