Mid-America Apartment Communities (NYSE:MAA) Stock Gets Price Target Bump from UBS Group

Key Points

• UBS raised its price target on Mid-America Apartment Communities from $123 to $128 but kept a “neutral” rating, implying 7.71% upside from the share price cited in the report.
• Analyst sentiment is mixed but averages to “Hold”: eight analysts rate the stock Buy, eleven Hold, and two Sell, with an average price target of $137.59.
• MAA reported quarterly EPS of $0.72, below the $2.10 consensus estimate, while revenue of $560.13 million slightly exceeded estimates and rose 1% year over year.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price target hoisted by UBS Group from $123.00 to $128.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price target points to a potential upside of 7.71% from the company's current price.

Several other research analysts also recently issued reports on the company. Barclays lowered their price objective on Mid-America Apartment Communities from $146.00 to $136.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 14th. Citigroup reiterated a "market outperform" rating on shares of Mid-America Apartment Communities in a research report on Friday, October 30th. The Goldman Sachs Group reduced their target price on shares of Mid-America Apartment Communities from $142.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 21st. Wells Fargo & Company dropped their price target on shares of Mid-America Apartment Communities from $146.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Finally, Cantor Fitzgerald cut their price target on shares of Mid-America Apartment Communities from $140.00 to $127.00 and set a "neutral" rating on the stock in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $137.59.

Mid-America Apartment Communities Price Performance

Shares of MAA stock traded down $0.56 during trading on Tuesday, hitting $118.84. The company had a trading volume of 372,162 shares, compared to its average volume of 1,014,957. The firm has a market capitalization of $13.78 billion, a P/E ratio of 36.00 and a beta of 0.71. Mid-America Apartment Communities has a one year low of $113.95 and a one year high of $144.41. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.11 and a current ratio of 0.11. The stock's 50-day moving average price is $120.01 and its 200 day moving average price is $128.70.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $560.13 million for the quarter, compared to the consensus estimate of $558.07 million. Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. Mid-America Apartment Communities's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $2.16 EPS. Equities analysts expect that Mid-America Apartment Communities will post 8.50 EPS for the current fiscal year.

Insider Transactions at Mid-America Apartment Communities

In other news, EVP Adrian Hill acquired 844 shares of Mid-America Apartment Communities stock in a transaction dated Friday, October 30th. The shares were bought at an average cost of $118.35 per share, with a total value of $99,887.40. Following the purchase, the executive vice president owned 65,277 shares in the company, valued at $7,725,532.95. This trade represents a 1.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Hedge funds and other institutional investors have recently bought and sold shares of the company. Elevation Wealth Partners LLC raised its stake in shares of Mid-America Apartment Communities by 593.1% during the second quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 172 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at $30,000. Raiffeisen Bank International AG boosted its stake in shares of Mid-America Apartment Communities by 116.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 221 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at $34,000. Finally, Jacobi Capital Management LLC bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 93.60% of the company's stock.

About Mid-America Apartment Communities

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. Eric Bolton Jr. since 2001.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.