Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $169.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has reduced its price target for Mid-America Apartment Communities from $177.00 to $169.00, while maintaining an "overweight" rating, suggesting a potential upside of 21.76%.
• The company's stock performance shows a trading price of $138.80 with a market cap of $16.25 billion, and it has a P/E ratio of 28.54.
• Consensus ratings for Mid-America Apartment Communities include one sell, twelve hold, and seven buy ratings, with an average price target of $164.32.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its target price decreased by stock analysts at Morgan Stanley from $177.00 to $169.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Morgan Stanley's price target suggests a potential upside of 21.76% from the company's current price.

Other equities analysts also recently issued reports about the company. Robert W. Baird increased their target price on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Royal Bank Of Canada lowered their price target on Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Barclays lowered their target price on Mid-America Apartment Communities from $172.00 to $156.00 and set an "equal weight" rating on the stock in a research note on Tuesday. KeyCorp cut their price objective on Mid-America Apartment Communities from $180.00 to $170.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Scotiabank decreased their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $164.32.

Mid-America Apartment Communities Price Performance

MAA traded up $0.42 during trading hours on Wednesday, hitting $138.80. The company's stock had a trading volume of 378,308 shares, compared to its average volume of 899,200. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83. Mid-America Apartment Communities has a 12 month low of $137.32 and a 12 month high of $173.38. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 3.71 and a beta of 0.75. The business's 50-day moving average price is $148.31 and its 200-day moving average price is $155.71.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.01. The company 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 firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 EPS. Sell-side analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MAA. Smartleaf Asset Management LLC boosted its position in Mid-America Apartment Communities by 6.8% during the first quarter. Smartleaf Asset Management LLC now owns 1,021 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 65 shares during the period. Alhambra Investment Management LLC boosted 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 valued at $363,000 after buying an additional 66 shares during the period. Stephens Inc. AR boosted its position in Mid-America Apartment Communities by 2.6% during the first 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 during the period. Ables Iannone Moore & Associates Inc. boosted its position in Mid-America Apartment Communities by 2.7% during the second quarter. Ables Iannone Moore & Associates Inc. now owns 2,683 shares of the real estate investment trust's stock valued at $397,000 after buying an additional 70 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in Mid-America Apartment Communities by 3.5% during the first quarter. Avantax Advisory Services Inc. now owns 2,353 shares of the real estate investment trust's stock valued at $394,000 after buying 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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