Truist Financial Issues Pessimistic Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) had its target price cut by stock analysts at Truist Financial from $174.00 to $171.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price target would suggest a potential upside of 7.59% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their price target for the company from $148.00 to $190.00 in a report on Monday, March 10th. JMP Securities restated a "market outperform" rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Scotiabank raised their target price on Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company dropped their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $168.95.

Mid-America Apartment Communities Trading Down 0.9%

Shares of Mid-America Apartment Communities stock traded down $1.41 during mid-day trading on Wednesday, hitting $158.94. 62,498 shares of the stock were exchanged, compared to its average volume of 860,980. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of 35.48, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities has a twelve month low of $126.77 and a twelve month high of $173.38. The company has a 50-day simple moving average of $160.44 and a 200 day simple moving average of $158.26.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings results 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. 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 the consensus estimate of $551.21 million. During the same quarter in the previous year, the business earned $2.22 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at $47,949,563.09. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Amber Fairbanks sold 173 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president now owns 3,012 shares of the company's stock, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,313 shares of company stock worth $1,171,707 over the last quarter. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings 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 during the last quarter. Financial Network Wealth Advisors LLC bought a new position in Mid-America Apartment Communities in the first quarter worth about $29,000. AlphaQuest LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter valued at approximately $34,000. CoreCap Advisors LLC grew its holdings in shares of Mid-America Apartment Communities by 94.9% during the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 112 shares during the period. Finally, Ransom Advisory Ltd bought a new stake in shares of Mid-America Apartment Communities during the first quarter valued at approximately $36,000. 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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