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

Key Points

• Cantor Fitzgerald cut its price target on MAA from $140 to $127 and maintained a neutral rating; the new target implies 6.57% upside from the current share price.
• Analyst sentiment is broadly a hold: MarketBeat’s consensus rating is “Hold,” with an average price target of $137.29.
• MAA reported quarterly EPS of $0.72, below the $2.10 consensus estimate, while revenue of $560.13 million slightly exceeded forecasts and rose 1% year over year.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price objective dropped by research analysts at Cantor Fitzgerald from $140.00 to $127.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Cantor Fitzgerald's target price would suggest a potential upside of 6.57% from the company's current price.

A number of other research firms have also recently issued reports on MAA. Jefferies Financial Group raised Mid-America Apartment Communities to a "hold" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. started coverage on shares of Mid-America Apartment Communities in a report on Thursday, July 16th. They set a "neutral" rating and a $147.00 price objective on the stock. UBS Group lowered their price objective on shares of Mid-America Apartment Communities from $129.00 to $123.00 and set a "neutral" rating for the company in a research report on Wednesday, October 14th. Scotiabank dropped their target price on shares of Mid-America Apartment Communities from $134.00 to $125.00 and set a "sector underperform" rating for the company in a research note on Thursday, September 17th. Finally, BNP Paribas Exane upgraded shares of Mid-America Apartment Communities from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of "Hold" and a consensus target price of $137.29.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $119.18 on Monday. The firm has a market capitalization of $13.82 billion, a PE ratio of 36.11 and a beta of 0.71. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.08. Mid-America Apartment Communities has a 1-year low of $113.95 and a 1-year high of $144.41. The business's 50 day moving average is $120.21 and its 200-day moving average is $128.78.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($1.38). Mid-America Apartment Communities had a net margin of 17.43% and a return on equity of 6.89%. The firm had revenue of $560.13 million during the quarter, compared to analyst estimates of $558.07 million. During the same quarter in the previous year, the company posted $2.16 earnings per share. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Mid-America Apartment Communities will post 8.50 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Adrian Hill acquired 844 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was purchased at an average cost of $118.35 per share, for a total transaction of $99,887.40. Following the completion of the transaction, the executive vice president directly owned 65,277 shares in the company, valued at $7,725,532.95. This trade represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MAA. Danske Bank A S raised its holdings in shares of Mid-America Apartment Communities by 1.2% in the 3rd quarter. Danske Bank A S now owns 77,660 shares of the real estate investment trust's stock valued at $9,144,000 after purchasing an additional 900 shares during the period. Hamel Associates Inc. lifted its stake in Mid-America Apartment Communities by 45.1% in the 3rd quarter. Hamel Associates Inc. now owns 7,820 shares of the real estate investment trust's stock valued at $921,000 after purchasing an additional 2,430 shares during the last quarter. Aberdeen Group plc lifted its stake in Mid-America Apartment Communities by 340.9% in the 3rd quarter. Aberdeen Group plc now owns 1,740,919 shares of the real estate investment trust's stock valued at $204,976,000 after purchasing an additional 1,346,062 shares during the last quarter. Allworth Financial LP grew its holdings in Mid-America Apartment Communities by 0.3% during the third quarter. Allworth Financial LP now owns 41,193 shares of the real estate investment trust's stock worth $4,850,000 after purchasing an additional 110 shares during the period. Finally, Eurizon Capital SGR S.p.A. grew its holdings in Mid-America Apartment Communities by 178.1% during the third quarter. Eurizon Capital SGR S.p.A. now owns 33,913 shares of the real estate investment trust's stock worth $3,993,000 after purchasing an additional 21,719 shares during the period. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities.

The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas.

Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H.

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