Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $146.00 by Analysts at Barclays

Mid-America Apartment Communities (NYSE:MAA) had its target price dropped by stock analysts at Barclays from $147.00 to $146.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 10.29% from the company’s previous close.

A number of other analysts have also commented on the stock. UBS Group decreased their price target on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Weiss Ratings raised shares of Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Piper Sandler reduced their price objective on shares of Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Cantor Fitzgerald boosted their target price on shares of Mid-America Apartment Communities from $132.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, BNP Paribas Exane upgraded shares of Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $144.81.

Mid-America Apartment Communities Stock Down 0.8%

Shares of NYSE:MAA traded down $1.11 during trading on Monday, reaching $132.38. 16,346 shares of the stock were exchanged, compared to its average volume of 994,488. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a 1-year low of $120.30 and a 1-year high of $146.41. The stock has a fifty day moving average of $135.59 and a two-hundred day moving average of $131.60. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 38.73 and a beta of 0.73.

Insiders Place Their Bets

In other news, Director Tamara D. Fischer acquired 1,100 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of $128.55 per share, with a total value of $141,405.00. Following the acquisition, the director directly owned 1,100 shares of the company’s stock, valued at $141,405. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

Several institutional investors and hedge funds have recently made changes to their positions in MAA. BlackRock Inc. bought a new stake in Mid-America Apartment Communities in the 2nd quarter worth about $1,820,661,000. State Street Corp lifted its position in shares of Mid-America Apartment Communities by 1.6% during the 3rd quarter. State Street Corp now owns 8,119,375 shares of the real estate investment trust’s stock worth $1,134,520,000 after buying an additional 125,130 shares in the last quarter. Norges Bank bought a new position in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $750,603,000. Viking Global Investors LP boosted its stake in shares of Mid-America Apartment Communities by 46.7% in the 4th quarter. Viking Global Investors LP now owns 3,880,048 shares of the real estate investment trust’s stock worth $538,977,000 after buying an additional 1,234,966 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Mid-America Apartment Communities by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,423,986 shares of the real estate investment trust’s stock worth $473,977,000 after buying an additional 40,028 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.