Mid-America Apartment Communities (NYSE:MAA) Cut to Sector Perform at Scotiabank

Mid-America Apartment Communities (NYSE:MAA) was downgraded by investment analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday,Finviz reports. They presently have a $142.00 price objective on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 6.91% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Evercore ISI dropped their price target on shares of Mid-America Apartment Communities from $153.00 to $144.00 and set an “in-line” rating on the stock in a research report on Monday, November 3rd. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. Royal Bank Of Canada cut their target price on shares of Mid-America Apartment Communities from $143.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Mid-America Apartment Communities in a report on Wednesday, October 8th. Finally, BNP Paribas Exane lowered Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating in a research note on Monday, September 29th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $154.95.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $132.82 on Friday. The stock has a market capitalization of $15.55 billion, a P/E ratio of 28.14, a P/E/G ratio of 3.83 and a beta of 0.77. The business has a 50-day moving average of $133.04 and a two-hundred day moving average of $142.24. Mid-America Apartment Communities has a fifty-two week low of $125.75 and a fifty-two week high of $173.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.06 and a quick ratio of 0.06.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.01). Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.14%. The company had revenue of $554.37 million during the quarter, compared to the consensus estimate of $557.22 million. During the same period in the previous year, the business posted $2.21 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS and its Q4 2025 guidance at 2.170-2.290 EPS. On average, equities research analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. acquired 578 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average price of $129.36 per share, with a total value of $74,770.08. Following the completion of the transaction, the chief executive officer owned 320,391 shares of the company’s stock, valued at approximately $41,445,779.76. This represents a 0.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $795,893,000. Viking Global Investors LP bought a new stake in shares of Mid-America Apartment Communities during the third quarter valued at approximately $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Mid-America Apartment Communities by 621.0% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock valued at $168,805,000 after purchasing an additional 1,040,525 shares in the last quarter. Nuveen LLC bought a new position in Mid-America Apartment Communities in the first quarter worth $150,966,000. Finally, Daiwa Securities Group Inc. boosted its stake in Mid-America Apartment Communities by 461.9% during the second quarter. Daiwa Securities Group Inc. now owns 721,418 shares of the real estate investment trust’s stock worth $106,777,000 after buying an additional 593,020 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

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.