Evercore ISI Has Lowered Expectations for Mid-America Apartment Communities (NYSE:MAA) Stock Price

by · The Markets Daily

Mid-America Apartment Communities (NYSE:MAA – Get Free Report) had its price objective cut by equities researchers at Evercore ISI from $144.00 to $143.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential upside of 7.80% from the company’s current price.

MAA has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, October 8th. Morgan Stanley lowered their target price on Mid-America Apartment Communities from $169.00 to $164.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Truist Financial cut their target price on shares of Mid-America Apartment Communities from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday, November 10th. UBS Group upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $132.00 in a research report on Monday, November 10th. Finally, Cantor Fitzgerald assumed coverage on shares of Mid-America Apartment Communities in a report on Wednesday, October 1st. They issued a “neutral” rating and a $150.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $154.89.

Check Out Our Latest Stock Analysis on Mid-America Apartment Communities

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA traded up $0.54 during midday trading on Monday, hitting $132.65. The company had a trading volume of 93,596 shares, compared to its average volume of 904,239. Mid-America Apartment Communities has a 12-month low of $125.75 and a 12-month high of $173.38. The company has a fifty day moving average of $132.26 and a two-hundred day moving average of $141.03. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 3.76 and a beta of 0.77. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.06 and a quick ratio of 0.06.

Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.01). The company had revenue of $554.37 million for the quarter, compared to analysts’ expectations of $557.22 million. Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.14%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS and its Q4 2025 guidance at 2.170-2.290 EPS. On average, equities research analysts expect that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO H Eric Bolton, Jr. acquired 578 shares of the stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $129.36 per share, with a total value of $74,770.08. Following the transaction, the chief executive officer directly owned 320,391 shares in the company, valued at approximately $41,445,779.76. This represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by insiders.

Institutional Trading of Mid-America Apartment Communities

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in Mid-America Apartment Communities by 6.8% in the first quarter. Smartleaf Asset Management LLC now owns 1,021 shares of the real estate investment trust’s stock worth $169,000 after acquiring an additional 65 shares in the last quarter. Ables Iannone Moore & Associates Inc. grew its position in Mid-America Apartment Communities by 2.7% during the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 2,683 shares of the real estate investment trust’s stock worth $397,000 after purchasing an additional 70 shares during the last quarter. Horizon Investments LLC raised its holdings in shares of Mid-America Apartment Communities by 5.0% in the first quarter. Horizon Investments LLC now owns 1,693 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 81 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Mid-America Apartment Communities by 1.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,600 shares of the real estate investment trust’s stock worth $643,000 after buying an additional 83 shares during the period. Finally, Arkadios Wealth Advisors increased its position in shares of Mid-America Apartment Communities by 1.9% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,518 shares of the real estate investment trust’s stock valued at $669,000 after acquiring an additional 84 shares during the period. Institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

(Get Free Report)

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.

See Also