Mid-America Apartment Communities (NYSE:MAA) Given New $173.00 Price Target at Scotiabank

Mid-America Apartment Communities (NYSE:MAA) had its price objective dropped by analysts at Scotiabank from $174.00 to $173.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 8.16% from the company’s current price.

A number of other analysts have also recently commented on the company. Piper Sandler boosted their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. BNP Paribas assumed 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their price target for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock traded down $1.39 during mid-day trading on Thursday, hitting $159.95. The company had a trading volume of 77,145 shares, compared to its average volume of 750,925. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.57 and a beta of 0.88. Mid-America Apartment Communities has a 12-month low of $120.32 and a 12-month high of $167.39. The company’s fifty day moving average is $157.37 and its 200-day moving average is $147.77. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities during the 2nd quarter worth $26,000. Versant Capital Management Inc increased its holdings in Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares during the period. Activest Wealth Management purchased a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $32,000. Finally, UMB Bank n.a. grew its position in shares of Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

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.