Scotiabank Lowers Mid-America Apartment Communities (NYSE:MAA) Price Target to $170.00

Key Points

• Scotiabank has lowered its price target for Mid-America Apartment Communities (NYSE: MAA) from $180.00 to $170.00, suggesting a potential upside of 22.45% from the stock's previous close.
• The stock has been rated with a consensus of "Hold" among analysts, with one sell rating, eleven holds, and eight buy ratings, alongside a consensus price target of $163.21.
• During trading on Thursday, MAA's stock fell by 0.7%, reaching $138.83, with a market capitalization of $16.25 billion.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its target price lowered by Scotiabank from $180.00 to $170.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price target points to a potential upside of 20.66% from the company's previous close.

A number of other brokerages have also weighed in on MAA. Barclays lowered their price objective on Mid-America Apartment Communities from $172.00 to $156.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Piper Sandler cut their price target on Mid-America Apartment Communities from $170.00 to $153.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. KeyCorp cut their price target on Mid-America Apartment Communities from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. UBS Group cut their target price on Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a research note on Tuesday, July 15th. Finally, Truist Financial lowered their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $163.21.

Mid-America Apartment Communities Trading Down 0.0%

NYSE MAA traded down $0.01 during trading hours on Thursday, hitting $140.90. 23,697 shares of the company's stock were exchanged, compared to its average volume of 901,791. The firm has a market capitalization of $16.49 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 3.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. The business's 50 day moving average is $147.69 and its 200-day moving average is $155.51. Mid-America Apartment Communities has a 12-month low of $137.32 and a 12-month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. The business had revenue of $549.90 million during the quarter, compared to analyst estimates of $552.19 million. During the same quarter last year, the firm earned $2.22 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAA. Mariner LLC increased its stake in Mid-America Apartment Communities by 7.1% during the fourth quarter. Mariner LLC now owns 19,166 shares of the real estate investment trust's stock valued at $2,962,000 after acquiring an additional 1,276 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $100,000. Gamco Investors INC. ET AL bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $309,000. NewEdge Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 117.7% in the 4th quarter. NewEdge Advisors LLC now owns 973 shares of the real estate investment trust's stock valued at $150,000 after purchasing an additional 526 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Mid-America Apartment Communities by 91.3% in the 4th quarter. Marshall Wace LLP now owns 129,865 shares of the real estate investment trust's stock worth $20,073,000 after acquiring an additional 61,982 shares in the last quarter. 93.60% of the stock is currently 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.