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

Mid-America Apartment Communities (NYSE:MAA) had its target price dropped by equities research analysts at Piper Sandler from $143.00 to $140.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective would indicate a potential upside of 5.92% from the stock’s current price.

MAA has been the topic of a number of other reports. Citigroup restated a “market outperform” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, June 10th. Truist Financial increased their price objective on Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Wells Fargo & Company raised their target price on Mid-America Apartment Communities from $140.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Mizuho boosted their target price on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Finally, Scotiabank upped their price target on shares of Mid-America Apartment Communities from $129.00 to $137.00 and gave the stock a “sector underperform” rating in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $145.06.

Mid-America Apartment Communities Stock Performance

NYSE:MAA traded down $1.15 during mid-day trading on Friday, reaching $132.17. The stock had a trading volume of 184,827 shares, compared to its average volume of 995,801. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 38.70 and a beta of 0.74. Mid-America Apartment Communities has a twelve month low of $120.30 and a twelve month high of $149.18. The business has a 50 day simple moving average of $135.22 and a 200 day simple moving average of $131.77.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $1.30. The company had revenue of $553.73 million for the quarter, compared to analyst estimates of $555.75 million. Mid-America Apartment Communities had a return on equity of 6.91% and a net margin of 18.17%.The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. On average, analysts expect that Mid-America Apartment Communities will post 8.51 earnings per share for the current fiscal year.

Insider Transactions at Mid-America Apartment Communities

In other news, Director Tamara D. Fischer acquired 1,100 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $128.55 per share, with a total value of $141,405.00. Following the completion of the acquisition, the director owned 1,100 shares in the company, valued at $141,405. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

Large investors have recently bought and sold shares of the company. Physician Wealth Advisors Inc. raised its stake in shares of Mid-America Apartment Communities by 65.2% during the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in Mid-America Apartment Communities by 593.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 172 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new position in Mid-America Apartment Communities during the 4th quarter valued at about $32,000. Measured Wealth Private Client Group LLC purchased a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $33,000. Finally, Root Financial Partners LLC raised its position in Mid-America Apartment Communities by 3,100.0% during the first quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.