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

Key Points

• Mid-America Apartment Communities (NYSE:MAA) was upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Various analysts have recently adjusted their price objectives for the stock, with the highest being $170.00 from JMP Securities and the lowest at $153.00 from Piper Sandler.
• The real estate investment trust reported $2.15 earnings per share, slightly exceeding analysts' expectations, with a revenue of $549.90 million for the last quarter.

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

A number of other equities analysts also recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. JMP Securities raised their price objective on shares of 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. Piper Sandler dropped their price objective on shares of 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. Evercore ISI dropped their price objective on shares of Mid-America Apartment Communities from $163.00 to $155.00 and set an "in-line" rating on the stock in a report on Monday, August 4th. Finally, Mizuho lowered their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and an average target price of $166.95.

Mid-America Apartment Communities Stock Performance

MAA opened at $140.53 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 3.76 and a beta of 0.75. The company's 50 day moving average is $148.93 and its 200 day moving average is $155.84. Mid-America Apartment Communities has a 12-month low of $138.67 and a 12-month high of $173.38.

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

Institutional Investors Weigh In On Mid-America Apartment Communities

Several large investors have recently bought and sold shares of MAA. Caitong International Asset Management Co. Ltd bought a new stake in Mid-America Apartment Communities in the second quarter worth $26,000. Larson Financial Group LLC increased its position in Mid-America Apartment Communities by 107.1% in the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 91 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new stake in Mid-America Apartment Communities in the first quarter worth $29,000. Sound Income Strategies LLC increased its position in Mid-America Apartment Communities by 972.2% during the second quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 175 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in Mid-America Apartment Communities during the first quarter valued at $34,000. 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.

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