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

Mid-America Apartment Communities (NYSE:MAA) had its price target reduced by investment analysts at BMO Capital Markets from $157.00 to $155.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 5.34% from the company’s previous close.

Several other equities analysts also recently commented on the company. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price for the company in a research report on Monday, October 21st. Scotiabank cut their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a report on Friday, January 10th. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Barclays initiated coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $166.29.

Mid-America Apartment Communities Trading Down 2.2 %

Shares of Mid-America Apartment Communities stock opened at $147.15 on Tuesday. Mid-America Apartment Communities has a 52-week low of $121.51 and a 52-week high of $167.39. The firm has a market capitalization of $17.20 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The company’s fifty day moving average price is $155.54 and its two-hundred day moving average price is $154.38.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 EPS. On average, analysts expect that Mid-America Apartment Communities will post 8.89 EPS for the current year.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several institutional investors have recently modified their holdings of MAA. American Century Companies Inc. boosted its stake in Mid-America Apartment Communities by 11.0% in the second quarter. American Century Companies Inc. now owns 37,763 shares of the real estate investment trust’s stock valued at $5,385,000 after acquiring an additional 3,732 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Mid-America Apartment Communities by 3,021.7% in the 2nd quarter. Federated Hermes Inc. now owns 718 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 695 shares during the period. Pacer Advisors Inc. boosted its position in shares of Mid-America Apartment Communities by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 8,274 shares of the real estate investment trust’s stock worth $1,180,000 after purchasing an additional 365 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 4.6% during the second quarter. ProShare Advisors LLC now owns 28,958 shares of the real estate investment trust’s stock worth $4,130,000 after purchasing an additional 1,280 shares during the period. Finally, Fidelis Capital Partners LLC increased its holdings in Mid-America Apartment Communities by 35.6% in the second quarter. Fidelis Capital Partners LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 358 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.