Truist Financial Lowers Mid-America Apartment Communities (NYSE:MAA) Price Target to $171.00

Mid-America Apartment Communities (NYSE:MAA) had its target price lowered by equities researchers at Truist Financial from $174.00 to $171.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would indicate a potential upside of 10.76% from the company’s current price.

A number of other research firms have also commented on MAA. Royal Bank of Canada upped their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Barclays upped their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. BMO Capital Markets lowered their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research report on Tuesday, January 21st. Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their price target for the company from $148.00 to $190.00 in a research report on Monday, March 10th. Finally, Wells Fargo & Company lowered their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus price target of $169.41.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $154.38 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 3.72 and a beta of 0.80. The stock has a 50 day moving average of $160.10 and a 200 day moving average of $158.26. Mid-America Apartment Communities has a 12 month low of $126.77 and a 12 month high of $173.38.

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

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the transaction, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total value of $724,473.92. Following the sale, the chief executive officer now directly owns 324,171 shares in the company, valued at $53,890,187.04. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,313 shares of company stock worth $1,171,707. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $826,562,000. Capital World Investors boosted its stake in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after buying an additional 2,088,143 shares during the period. Deutsche Bank AG boosted its stake in shares of Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock worth $189,507,000 after buying an additional 928,851 shares during the period. Nuveen LLC acquired a new stake in shares of Mid-America Apartment Communities during the first quarter worth about $150,966,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Mid-America Apartment Communities by 26.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock worth $517,015,000 after buying an additional 708,125 shares during the period. 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.