Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $140.00 at Piper Sandler

Mid-America Apartment Communities (NYSE:MAA) had its price objective cut by Piper Sandler from $143.00 to $140.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target would indicate a potential upside of 5.92% from the stock’s previous close.

A number of other analysts have also recently commented on MAA. Barclays lifted their price objective on Mid-America Apartment Communities from $139.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. UBS Group decreased their price target on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Morgan Stanley lifted their price target on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Wall Street Zen lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group raised shares of Mid-America Apartment Communities to a “hold” rating in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $145.06.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock traded down $1.15 during mid-day trading on Friday, hitting $132.17. 184,827 shares of the company were exchanged, compared to its average volume of 995,801. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.13 and a quick ratio of 0.13. The business’s 50 day simple moving average is $135.22 and its two-hundred day simple moving average is $131.77. The company has a market capitalization of $15.38 billion, a P/E ratio of 38.70 and a beta of 0.74. Mid-America Apartment Communities has a 12-month low of $120.30 and a 12-month high of $149.18.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $1.30. The company had revenue of $553.73 million during the quarter, compared to analysts’ expectations of $555.75 million. Mid-America Apartment Communities had a return on equity of 6.91% and a net margin of 18.17%.The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Analysts forecast that Mid-America Apartment Communities will post 8.51 earnings per share for the current fiscal year.

Insider Activity at Mid-America Apartment Communities

In related news, Director Tamara D. Fischer acquired 1,100 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $128.55 per share, with a total value of $141,405.00. Following the purchase, the director directly owned 1,100 shares in the company, valued at $141,405. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds have recently modified their holdings of the stock. Algebris UK Ltd. raised its position in shares of Mid-America Apartment Communities by 27.5% in the 4th quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust’s stock worth $18,358,000 after buying an additional 28,528 shares during the period. BNP Paribas Financial Markets grew its position in Mid-America Apartment Communities by 29.5% during the fourth quarter. BNP Paribas Financial Markets now owns 246,786 shares of the real estate investment trust’s stock valued at $34,281,000 after acquiring an additional 56,224 shares during the period. Norges Bank purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at about $750,603,000. Nomura Asset Management Co. Ltd. increased its stake in Mid-America Apartment Communities by 4.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 216,565 shares of the real estate investment trust’s stock worth $30,083,000 after acquiring an additional 8,724 shares during the last quarter. Finally, Swiss Life Asset Management Ltd increased its stake in Mid-America Apartment Communities by 466.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 45,424 shares of the real estate investment trust’s stock worth $6,310,000 after acquiring an additional 37,405 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

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.