Mid-America Apartment Communities, Inc. (NYSE:MAA) to Post Q3 2024 Earnings of $2.17 Per Share, Wedbush Forecasts

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for shares of Mid-America Apartment Communities in a research report issued on Monday, September 16th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $2.17 for the quarter, down from their prior estimate of $2.22. Wedbush currently has a “Outperform” rating and a $184.00 target price on the stock. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.88 per share. Wedbush also issued estimates for Mid-America Apartment Communities’ Q4 2024 earnings at $2.26 EPS, FY2024 earnings at $8.88 EPS and FY2025 earnings at $9.07 EPS.

Several other research firms also recently commented on MAA. Deutsche Bank Aktiengesellschaft boosted their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price on the stock. Scotiabank boosted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Finally, Piper Sandler increased their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average price target of $159.91.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock opened at $162.46 on Thursday. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 3.66 and a beta of 0.88. The stock’s 50 day simple moving average is $153.42 and its two-hundred day simple moving average is $140.63. Mid-America Apartment Communities has a fifty-two week low of $115.56 and a fifty-two week high of $167.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its position in Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after acquiring an additional 393,067 shares during the last quarter. Blackstone Inc. raised its holdings in shares of Mid-America Apartment Communities by 1.0% in the fourth quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock worth $277,507,000 after buying an additional 20,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Mid-America Apartment Communities by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after purchasing an additional 97,672 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Mid-America Apartment Communities by 2.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after purchasing an additional 44,621 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Mid-America Apartment Communities by 1.5% during the first quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock valued at $190,086,000 after purchasing an additional 21,000 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

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.