Evercore ISI Issues Pessimistic Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Key Points

• Evercore ISI has lowered its price target for Mid-America Apartment Communities (NYSE:MAA) from $155.00 to $152.00, indicating a potential upside of 9.73%.
• Analysts' ratings for MAA are mixed, with one sell rating, twelve hold ratings, and eight buy ratings, resulting in an average rating of "Hold".
• The company's recent quarterly earnings report showed $2.15 EPS, slightly above analyst expectations, with a revenue of $549.90 million for the quarter.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price target lowered by equities research analysts at Evercore ISI from $155.00 to $152.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective suggests a potential upside of 9.73% from the company's current price.

Other equities analysts also recently issued reports about the company. Truist Financial cut their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. UBS Group dropped their target price on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a report on Tuesday, July 15th. JMP Securities raised their price target on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. Raymond James Financial downgraded Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Finally, Robert W. Baird boosted their price objective on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $166.80.

Mid-America Apartment Communities Trading Down 1.4%

Shares of MAA stock opened at $138.52 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market capitalization of $16.22 billion, a PE ratio of 28.50, a P/E/G ratio of 3.76 and a beta of 0.75. Mid-America Apartment Communities has a 1-year low of $138.34 and a 1-year high of $173.38. The business's fifty day moving average price is $148.59 and its 200 day moving average price is $155.83.

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

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAA. Smartleaf Asset Management LLC boosted its holdings in Mid-America Apartment Communities by 6.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,021 shares of the real estate investment trust's stock worth $169,000 after buying an additional 65 shares during the period. Alhambra Investment Management LLC raised its position in shares of Mid-America Apartment Communities by 3.1% during the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock valued at $363,000 after buying an additional 66 shares in the last quarter. Stephens Inc. AR raised its position in shares of Mid-America Apartment Communities by 2.6% during the 1st quarter. Stephens Inc. AR now owns 2,762 shares of the real estate investment trust's stock valued at $463,000 after buying an additional 70 shares in the last quarter. Ables Iannone Moore & Associates Inc. raised its position in Mid-America Apartment Communities by 2.7% in the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 2,683 shares of the real estate investment trust's stock worth $397,000 after purchasing an additional 70 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in Mid-America Apartment Communities by 3.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,353 shares of the real estate investment trust's stock worth $394,000 after purchasing an additional 80 shares during the period. 93.60% of the stock is owned by institutional investors.

About Mid-America Apartment Communities

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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