Mid-America Apartment Communities (NYSE:MAA) Lifted to “Outperform” at Wedbush

Mid-America Apartment Communities (NYSE:MAA) was upgraded by investment analysts at Wedbush from a “neutral” rating to an “outperform” rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $154.00 price target on the real estate investment trust’s stock, up from their prior price target of $135.00. Wedbush’s target price suggests a potential upside of 15.79% from the company’s previous close.

MAA has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $136.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Truist Financial cut their price target on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $140.00 price target on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $144.18.

Mid-America Apartment Communities Price Performance

NYSE:MAA opened at $133.00 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The business’s 50-day simple moving average is $129.46 and its two-hundred day simple moving average is $128.49. The stock has a market cap of $15.54 billion, a PE ratio of 27.88, a P/E/G ratio of 3.41 and a beta of 0.80. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.44 million. During the same period last year, the firm posted $2.28 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Mid-America Apartment Communities will post 8.91 EPS for the current fiscal year.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 2,807 shares of company stock worth $353,955. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds have recently modified their holdings of MAA. DecisionPoint Financial LLC acquired a new position in Mid-America Apartment Communities in the 1st quarter worth $26,000. First United Bank & Trust purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at $27,000. Mather Group LLC. acquired a new position in shares of Mid-America Apartment Communities in the 1st quarter valued at about $32,000. Cullen Frost Bankers Inc. purchased a new position in Mid-America Apartment Communities during the third quarter valued at approximately $35,000. Finally, First Financial Corp IN grew its position in Mid-America Apartment Communities by 40.8% during the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 86 shares in 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.