Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $146.00 by Analysts at Barclays

Key Points

• Barclays cut its price target for Mid-America Apartment Communities (NYSE: MAA) to $146 from $147 while maintaining an “equal weight” rating, implying approximately 10.29% upside from the reported share price.
• Analyst sentiment remains mixed but leans neutral: MAA has a consensus “Hold” rating and an average price target of $144.81, based on eight Buy, eleven Hold, and one Sell rating.
• MAA shares traded at $132.38, with a market capitalization of $15.36 billion; institutional investors own a substantial 93.60% of the company’s stock.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its target price cut by equities researchers at Barclays from $147.00 to $146.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's target price would indicate a potential upside of 10.29% from the stock's current price.

Several other research firms also recently commented on MAA. BNP Paribas Exane upgraded Mid-America Apartment Communities from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. UBS Group reduced their price target on Mid-America Apartment Communities from $134.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, May 14th. Cantor Fitzgerald upped their price objective on Mid-America Apartment Communities from $132.00 to $140.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of "Hold" and an average price target of $144.81.

Mid-America Apartment Communities Price Performance

Shares of MAA traded down $1.11 during trading hours on Monday, reaching $132.38. The stock had a trading volume of 16,346 shares, compared to its average volume of 994,488. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities has a 12 month low of $120.30 and a 12 month high of $146.41. The stock has a market capitalization of $15.36 billion, a PE ratio of 38.73 and a beta of 0.73. The company's 50-day moving average is $135.59 and its two-hundred day moving average is $131.60.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, Director Tamara D. Fischer purchased 1,100 shares of the business's stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the acquisition, the director owned 1,100 shares of the company's stock, valued at approximately $141,405. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company's stock.

Institutional Trading of Mid-America Apartment Communities

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Mid-America Apartment Communities by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,821 shares of the real estate investment trust's stock worth $2,149,000 after purchasing an additional 620 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Mid-America Apartment Communities by 47.6% during the second quarter. EverSource Wealth Advisors LLC now owns 927 shares of the real estate investment trust's stock valued at $137,000 after purchasing an additional 299 shares during the period. Baird Financial Group Inc. boosted its position in shares of Mid-America Apartment Communities by 7.1% during the 2nd quarter. Baird Financial Group Inc. now owns 6,595 shares of the real estate investment trust's stock worth $976,000 after purchasing an additional 437 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth about $230,000. Finally, Bank of Nova Scotia grew its stake in shares of Mid-America Apartment Communities by 21.7% in the 2nd quarter. Bank of Nova Scotia now owns 15,538 shares of the real estate investment trust's stock valued at $2,300,000 after buying an additional 2,771 shares during the period. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Company Profile

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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