Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $164.00 by Analysts at Wells Fargo & Company

Mid-America Apartment Communities (NYSE:MAA) had its price objective lowered by investment analysts at Wells Fargo & Company from $174.00 to $164.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 11.16% from the company’s current price.

MAA has been the topic of a number of other reports. Barclays dropped their price objective on shares of Mid-America Apartment Communities from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Friday. Raymond James upgraded shares of 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 research note on Monday, October 21st. Mizuho lowered 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 note on Monday, January 6th. Royal Bank of Canada lowered their target price on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $159.50 to $168.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $166.00.

Mid-America Apartment Communities Trading Up 0.4 %

Shares of NYSE:MAA traded up $0.63 during trading on Friday, reaching $147.53. 48,789 shares of the company were exchanged, compared to its average volume of 587,184. The firm has a market capitalization of $17.24 billion, a PE ratio of 33.33, a P/E/G ratio of 2.37 and a beta of 0.91. The business’s fifty day simple moving average is $155.33 and its 200-day simple moving average is $154.33. Mid-America Apartment Communities has a 12-month low of $121.51 and a 12-month high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in shares of Mid-America Apartment Communities during the third quarter worth $25,000. Activest Wealth Management purchased a new position in shares of Mid-America Apartment Communities during the third quarter worth $32,000. Catalyst Capital Advisors LLC purchased a new position in shares of Mid-America Apartment Communities during the third quarter worth $37,000. Quarry LP purchased a new position in shares of Mid-America Apartment Communities during the third quarter worth $45,000. Finally, UMB Bank n.a. raised its holdings in shares of Mid-America Apartment Communities by 30.5% during the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors 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.