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

Key Points

• Evercore ISI has lowered its price target for Mid-America Apartment Communities from $163.00 to $155.00, indicating a potential upside of 9.47% from the previous close.
• Other analysts, including Barclays and Royal Bank of Canada, have updated their ratings and price targets, with the consensus price target now standing at $168.33.
• Mid-America Apartment Communities reported an earnings per share (EPS) of $2.15 for the last quarter, slightly exceeding estimates, and had a revenue of $549.90 million.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price target cut by equities research analysts at Evercore ISI from $163.00 to $155.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's target price suggests a potential upside of 9.47% from the company's previous close.

Several other equities research analysts also recently commented on the company. Barclays raised their target price on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Royal Bank Of Canada dropped their target price on Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating on the stock in a report on Friday. Robert W. Baird raised their target price on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Raymond James Financial downgraded Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Finally, The Goldman Sachs Group downgraded Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price objective on the stock. in a report on Friday, July 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $168.33.

Mid-America Apartment Communities Trading Up 1.1%

Shares of Mid-America Apartment Communities stock traded up $1.59 during trading hours on Monday, reaching $141.59. The stock had a trading volume of 276,560 shares, compared to its average volume of 902,752. The firm has a 50 day simple moving average of $150.30 and a two-hundred day simple moving average of $156.18. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 3.59 and a beta of 0.75. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83. Mid-America Apartment Communities has a 1 year low of $138.67 and a 1 year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $2.14 by $0.01. The business had revenue of $549.90 million for the quarter, compared to the consensus estimate of $552.19 million. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. The company's revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $2.22 EPS. As a group, equities research analysts anticipate that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors boosted its position in Mid-America Apartment Communities by 1.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,518 shares of the real estate investment trust's stock valued at $669,000 after purchasing an additional 84 shares during the period. World Investment Advisors acquired a new position in Mid-America Apartment Communities during the 2nd quarter valued at approximately $293,000. Jennison Associates LLC boosted its position in Mid-America Apartment Communities by 95.1% during the 2nd quarter. Jennison Associates LLC now owns 6,490 shares of the real estate investment trust's stock valued at $961,000 after purchasing an additional 3,163 shares during the period. New York Life Investment Management LLC boosted its position in Mid-America Apartment Communities by 1.4% during the 2nd quarter. New York Life Investment Management LLC now owns 17,601 shares of the real estate investment trust's stock valued at $2,605,000 after purchasing an additional 237 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Mid-America Apartment Communities by 29.5% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,334 shares of the real estate investment trust's stock worth $2,862,000 after acquiring an additional 4,400 shares during the period. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.

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