Mid-America Apartment Communities (NYSE:MAA) Upgraded to Hold at Wall Street Zen

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Friday.

MAA has been the subject of a number of other reports. JMP Securities upped their price objective on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. Barclays upped their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Robert W. Baird upped their price objective on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Truist Financial dropped their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Finally, Raymond James cut Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $185.00 to $175.00 in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $169.50.

Mid-America Apartment Communities Price Performance

NYSE MAA traded down $3.11 during trading on Friday, reaching $152.56. The company's stock had a trading volume of 1,252,782 shares, compared to its average volume of 752,759. The stock has a market capitalization of $17.86 billion, a PE ratio of 34.05, a P/E/G ratio of 3.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a fifty day moving average of $158.72 and a 200 day moving average of $158.08. Mid-America Apartment Communities has a one year low of $133.99 and a one year high of $173.38.

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

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the transaction, the chief executive officer now owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amber Fairbanks sold 173 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares of the company's stock, valued at $502,552.20. This represents a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,313 shares of company stock valued at $1,171,707. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC bought a new position in Mid-America Apartment Communities during the 1st quarter valued at approximately $29,000. Larson Financial Group LLC increased its position in Mid-America Apartment Communities by 107.1% during the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 91 shares in the last quarter. AlphaQuest LLC bought a new position in Mid-America Apartment Communities during the 1st quarter valued at approximately $34,000. Ransom Advisory Ltd bought a new position in Mid-America Apartment Communities during the 1st quarter valued at approximately $36,000. Finally, Zions Bancorporation National Association UT bought a new position in Mid-America Apartment Communities during the 1st quarter valued at approximately $38,000. 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.