Mid-America Apartment Communities (NYSE:MAA) Given New $153.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has reduced its price target for Mid-America Apartment Communities from $170.00 to $153.00, keeping a "neutral" rating on the stock.
• Several analysts have varied ratings on the stock, with Mizuho and Wall Street Zen also issuing lower price objectives and ratings, while JMP Securities and Barclays have increased their target prices.
• Mid-America Apartment Communities stock has shown mixed performance, trading at $141.16 with a market capitalization of $16.52 billion amidst a consensus rating of "Hold" from analysts.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price objective dropped by Piper Sandler from $170.00 to $153.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's price target would suggest a potential upside of 8.38% from the company's current price.

Other analysts have also issued reports about the company. Mizuho decreased their price objective on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Saturday. JMP Securities boosted their price objective on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, May 22nd. Scotiabank decreased their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, June 13th. Finally, Barclays boosted their target price on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $167.76.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock traded up $1.16 during mid-day trading on Monday, reaching $141.16. 357,775 shares of the company's stock were exchanged, compared to its average volume of 903,331. The business's fifty day simple moving average is $150.30 and its 200 day simple moving average is $156.18. The firm has a market capitalization of $16.52 billion, a PE ratio of 29.06, a P/E/G ratio of 3.59 and a beta of 0.75. Mid-America Apartment Communities has a one year low of $138.67 and a one year high of $173.38. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.83.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results 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. The firm had revenue of $549.90 million for the quarter, compared to analyst estimates of $552.19 million. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. The business's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.22 earnings per share. On average, sell-side analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $26,000. Larson Financial Group LLC grew its stake in shares of Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock worth $29,000 after buying an additional 91 shares during the last quarter. Financial Network Wealth Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth approximately $29,000. Sound Income Strategies LLC grew its stake in shares of Mid-America Apartment Communities by 972.2% in the 2nd quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust's stock worth $29,000 after buying an additional 175 shares during the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth approximately $34,000. Institutional investors 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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