Mid-America Apartment Communities (NYSE:MAA) Given New $147.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley lowered its price target for Mid-America Apartment Communities from $155 to $147 while maintaining an “overweight” rating, implying approximately 11.46% upside from the $131.88 share price.
• Analyst sentiment is mixed: MAA has an overall “Hold” consensus rating and an average price target of $144.88, based on eight Buy, eleven Hold and one Sell rating.
• MAA shares recently traded near $131.88, with a market capitalization of $15.3 billion; institutional investors own approximately 93.6% of the stock.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price target dropped by investment analysts at Morgan Stanley from $155.00 to $147.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Morgan Stanley's price objective indicates a potential upside of 11.46% from the company's current price.

A number of other brokerages have also issued reports on MAA. Piper Sandler cut their target price on Mid-America Apartment Communities from $143.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 20th. UBS Group cut their price objective on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, May 14th. Scotiabank decreased their price target on Mid-America Apartment Communities from $137.00 to $134.00 and set a "sector underperform" rating for the company in a research note on Tuesday, August 4th. Finally, Truist Financial upped their price target on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $144.88.

Mid-America Apartment Communities Price Performance

Shares of MAA stock traded up $0.14 during mid-day trading on Wednesday, hitting $131.88. 137,116 shares of the stock traded hands, compared to its average volume of 999,565. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. The company's 50-day simple moving average is $135.74 and its 200-day simple moving average is $131.64. Mid-America Apartment Communities has a twelve month low of $120.30 and a twelve month high of $146.41. The firm has a market cap of $15.30 billion, a price-to-earnings ratio of 38.56 and a beta of 0.73.

Insiders Place Their Bets

In other news, Director Tamara D. Fischer acquired 1,100 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $128.55 per share, with a total value of $141,405.00. Following the completion of the acquisition, the director owned 1,100 shares in the company, valued at approximately $141,405. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Physician Wealth Advisors Inc. raised its stake in shares of Mid-America Apartment Communities by 65.2% in the fourth quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 75 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in shares of Mid-America Apartment Communities by 593.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 172 shares during the period. Nalls Sherbakoff Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at $32,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Mid-America Apartment Communities during the third quarter worth $33,000. Finally, Root Financial Partners LLC raised its position in shares of Mid-America Apartment Communities by 3,100.0% during the first quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 279 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc NYSE: MAA is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA's portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.

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