Scotiabank Issues Positive Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price objective lifted by equities researchers at Scotiabank from $182.00 to $194.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price objective indicates a potential upside of 18.60% from the company's current price.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. JMP Securities reissued a "market outperform" rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Truist Financial lifted their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Evercore ISI boosted their price objective on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Finally, BMO Capital Markets reduced their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating on the stock in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $169.09.

Mid-America Apartment Communities Stock Up 1.7%

NYSE:MAA traded up $2.67 during trading hours on Monday, hitting $163.57. The stock had a trading volume of 1,660,835 shares, compared to its average volume of 742,748. The company has a market cap of $19.15 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. The business has a 50 day simple moving average of $160.48 and a two-hundred day simple moving average of $158.08. Mid-America Apartment Communities has a 1-year low of $126.77 and a 1-year high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.22 EPS. Analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total transaction of $724,473.92. Following the sale, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president now owns 3,012 shares of the company's stock, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,313 shares of company stock worth $1,171,707. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its holdings in shares of 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 valued at $169,000 after purchasing an additional 65 shares during the period. Alhambra Investment Management LLC increased its position in Mid-America Apartment Communities by 3.1% during the first quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock worth $363,000 after buying an additional 66 shares during the last quarter. Inspire Investing LLC lifted its holdings in Mid-America Apartment Communities by 0.9% in the 4th quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust's stock worth $1,233,000 after purchasing an additional 68 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock worth $39,000 after buying an additional 68 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 0.6% in the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock worth $1,704,000 after purchasing an additional 69 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

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.