Scotiabank Has Lowered Expectations for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA) had its target price decreased by research analysts at Scotiabank from $174.00 to $173.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential upside of 9.43% from the stock’s previous close.

MAA has been the subject of several other research reports. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective for the company. Wedbush raised their price objective on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Piper Sandler raised their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, UBS Group boosted their price objective on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Trading Up 0.5 %

Shares of NYSE:MAA opened at $158.09 on Thursday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $157.27 and its two-hundred day moving average is $148.02. The company has a market cap of $18.48 billion, a PE ratio of 35.69, a P/E/G ratio of 2.60 and a beta of 0.88. Mid-America Apartment Communities has a 52 week low of $120.32 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same period in the prior year, the company posted $2.29 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mid-America Apartment Communities

Institutional investors and hedge funds have recently made changes to their positions in the stock. Johnson Investment Counsel Inc. grew its position in Mid-America Apartment Communities by 1.1% during the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after buying an additional 77 shares during the period. Telos Capital Management Inc. increased its stake in Mid-America Apartment Communities by 0.8% in the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 78 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Mid-America Apartment Communities by 1.4% in the third quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock valued at $962,000 after purchasing an additional 82 shares during the last quarter. First Commonwealth Financial Corp PA raised its stake in shares of Mid-America Apartment Communities by 2.1% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 86 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in Mid-America Apartment Communities by 6.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 87 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.