Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $148.00 at Truist Financial

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price objective decreased by equities researchers at Truist Financial from $152.00 to $148.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price objective indicates a potential upside of 9.32% from the stock's current price.

A number of other research firms have also recently weighed in on MAA. Jefferies Financial Group reiterated a "hold" rating and set a $136.00 price target (down from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Morgan Stanley lifted their price target on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an "equal weight" rating in a research report on Monday, February 26th. The Goldman Sachs Group restated a "buy" rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Piper Sandler reaffirmed a "neutral" rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Finally, Scotiabank raised Mid-America Apartment Communities from a "sector underperform" rating to a "sector perform" rating and boosted their target price for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $143.18.

Mid-America Apartment Communities Trading Up 2.0 %

Shares of Mid-America Apartment Communities stock traded up $2.66 during mid-day trading on Tuesday, hitting $135.38. The stock had a trading volume of 1,095,889 shares, compared to its average volume of 907,196. The firm has a 50-day moving average of $128.56 and a two-hundred day moving average of $128.68. The firm has a market cap of $15.80 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 4.07 and a beta of 0.80. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities has a 12-month low of $115.56 and a 12-month high of $158.46.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.93). The business had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.32 earnings per share. Sell-side analysts forecast that Mid-America Apartment Communities will post 8.94 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of the business's stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $130.21, for a total transaction of $524,485.88. Following the completion of the transaction, the chief executive officer now directly owns 304,523 shares of the company's stock, valued at $39,651,939.83. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of the firm's stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the sale, the chief executive officer now directly owns 304,523 shares in the company, valued at approximately $39,651,939.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,642 shares of the business's stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company's stock, valued at approximately $40,057,103.59. The disclosure for this sale can be found here. Insiders sold 6,835 shares of company stock valued at $878,441 in the last three months. 1.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAA. BlackRock Inc. boosted its holdings in Mid-America Apartment Communities by 1.0% in the first quarter. BlackRock Inc. now owns 11,362,466 shares of the real estate investment trust's stock valued at $1,716,187,000 after purchasing an additional 112,194 shares in the last quarter. FMR LLC boosted its holdings in shares of Mid-America Apartment Communities by 12.2% in the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust's stock valued at $702,125,000 after buying an additional 592,306 shares in the last quarter. Norges Bank purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $713,500,000. JPMorgan Chase & Co. raised its stake in Mid-America Apartment Communities by 41.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust's stock worth $491,036,000 after acquiring an additional 956,154 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Mid-America Apartment Communities by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 2,635,202 shares of the real estate investment trust's stock worth $397,203,000 after acquiring an additional 60,949 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.