Mizuho Lowers Mid-America Apartment Communities (NYSE:MAA) Price Target to $159.00

Mid-America Apartment Communities (NYSE:MAA) had its price target reduced by Mizuho from $163.00 to $159.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price suggests a potential upside of 7.27% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target for the company in a research report on Monday, October 21st. Barclays started coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 target price for the company. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target on the stock in a report on Tuesday, December 17th. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. Finally, Scotiabank reduced their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $166.92.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA opened at $148.22 on Monday. The business’s 50 day moving average price is $156.78 and its 200-day moving average price is $153.78. Mid-America Apartment Communities has a 1 year low of $121.51 and a 1 year high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $17.32 billion, a PE ratio of 33.46, a P/E/G ratio of 2.53 and a beta of 0.91.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 EPS. As a group, equities research analysts expect that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal 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 MAA. TD Asset Management Inc lifted its position in shares of Mid-America Apartment Communities by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 40,402 shares of the real estate investment trust’s stock worth $5,762,000 after purchasing an additional 1,148 shares during the last quarter. National Bank of Canada FI raised its stake in Mid-America Apartment Communities by 24.3% in the second quarter. National Bank of Canada FI now owns 32,405 shares of the real estate investment trust’s stock valued at $4,575,000 after buying an additional 6,332 shares in the last quarter. Candriam S.C.A. lifted its holdings in Mid-America Apartment Communities by 8.9% during the 2nd quarter. Candriam S.C.A. now owns 9,261 shares of the real estate investment trust’s stock worth $1,321,000 after buying an additional 759 shares during the last quarter. Norden Group LLC acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth about $300,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $241,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

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.