Mid-America Apartment Communities (NYSE:MAA) Given New $173.00 Price Target at Scotiabank

Mid-America Apartment Communities (NYSE:MAA) had its price target reduced by equities research analysts at Scotiabank from $174.00 to $173.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 8.16% from the company’s previous close.

Other analysts also recently issued reports about the company. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price for the company in a report on Monday, October 21st. Piper Sandler raised their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada decreased their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $161.64.

Mid-America Apartment Communities Stock Down 0.9 %

Shares of MAA traded down $1.39 during mid-day trading on Thursday, reaching $159.95. The company’s stock had a trading volume of 77,145 shares, compared to its average volume of 750,925. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a 12-month low of $120.32 and a 12-month high of $167.39. The stock has a market cap of $18.69 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 2.57 and a beta of 0.88. The company’s 50 day moving average is $157.37 and its 200 day moving average is $147.77.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the previous year, the company posted $2.29 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Mid-America Apartment Communities

Institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC purchased a new stake in shares of Mid-America Apartment Communities during the second quarter worth about $26,000. Versant Capital Management Inc raised its position in shares of Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 215 shares during the last quarter. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $32,000. Finally, UMB Bank n.a. raised its holdings in Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 108 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

About Mid-America Apartment Communities

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.