Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its price target reduced by equities researchers at Royal Bank Of Canada from $158.00 to $155.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price target would indicate a potential upside of 9.87% from the stock's previous close.
Several other brokerages also recently commented on MAA. The Goldman Sachs Group downgraded Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price target on the stock. in a research report on Friday, July 11th. Raymond James Financial lowered Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Scotiabank cut their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, June 13th. Mizuho cut their target price on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, UBS Group dropped their price target on Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $168.52.
Check Out Our Latest Analysis on MAA
Mid-America Apartment Communities Stock Performance
MAA traded down $1.35 during trading hours on Friday, hitting $141.08. 487,289 shares of the stock were exchanged, compared to its average volume of 900,774. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 3.81 and a beta of 0.75. Mid-America Apartment Communities has a 12 month low of $138.67 and a 12 month high of $173.38. The stock has a 50-day simple moving average of $150.56 and a 200-day simple moving average of $156.18.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results 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. Mid-America Apartment Communities had a return on equity of 9.33% and a net margin of 25.98%. The firm had revenue of $549.90 million for the quarter, compared to analyst estimates of $552.19 million. During the same period in the previous year, the company earned $2.22 earnings per share. Mid-America Apartment Communities's revenue was up .6% compared to the same quarter last year. Analysts anticipate that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.
Hedge Funds Weigh In On Mid-America Apartment Communities
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in shares of Mid-America Apartment Communities by 6.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,021 shares of the real estate investment trust's stock valued at $169,000 after acquiring an additional 65 shares during the last quarter. Alhambra Investment Management LLC increased its holdings in shares of Mid-America Apartment Communities by 3.1% in the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock worth $363,000 after purchasing an additional 66 shares in the last quarter. Huntington National Bank increased its holdings in shares of Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock worth $181,000 after purchasing an additional 70 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Mid-America Apartment Communities by 2.6% in the 1st quarter. Stephens Inc. AR now owns 2,762 shares of the real estate investment trust's stock worth $463,000 after buying an additional 70 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. lifted its position in Mid-America Apartment Communities by 2.7% during the second quarter. Ables Iannone Moore & Associates Inc. now owns 2,683 shares of the real estate investment trust's stock valued at $397,000 after purchasing an additional 70 shares in the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.
About Mid-America Apartment Communities
(
Get Free Report)
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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