Mid-America Apartment Communities (NYSE:MAA) Stock Rating Lowered by Wall Street Zen

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

A number of other brokerages have also recently issued reports on MAA. Robert W. Baird boosted their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Truist Financial reduced their price target on shares of 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. Raymond James Financial cut shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Barclays upped their price target on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of "Hold" and an average target price of $169.76.

Mid-America Apartment Communities Trading Up 0.1%

Shares of NYSE:MAA traded up $0.12 during trading on Friday, hitting $147.97. 825,894 shares of the company's stock were exchanged, compared to its average volume of 788,008. Mid-America Apartment Communities has a 1-year low of $137.51 and a 1-year high of $180.00. The firm has a 50-day moving average price of $155.68 and a two-hundred day moving average price of $156.67. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.82. The firm has a market cap of $17.32 billion, a P/E ratio of 30.83, a PEG ratio of 3.78 and a beta of 0.78.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.22 earnings per share. Equities analysts predict that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president directly owned 3,012 shares in the company, valued at $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer owned 324,171 shares in the company, valued at approximately $53,890,187.04. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,313 shares of company stock worth $1,171,707. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Mid-America Apartment Communities by 6.8% in 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 purchasing an additional 65 shares during the last quarter. Alhambra Investment Management LLC grew its stake in shares of Mid-America Apartment Communities by 3.1% in 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 acquiring an additional 66 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Mid-America Apartment Communities by 37.2% in the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 68 shares in the last quarter. Huntington National Bank grew its stake in shares of Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock valued at $181,000 after acquiring an additional 70 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in shares of Mid-America Apartment Communities by 2.6% in the first quarter. Stephens Inc. AR now owns 2,762 shares of the real estate investment trust's stock valued at $463,000 after acquiring an additional 70 shares in the last quarter. 93.60% of the stock is currently 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.