Mid-America Apartment Communities PT Lowered to $71.00 (MAA)
Equities research analysts at RBC Capital dropped their target price on shares of Mid-America Apartment Communities (NYSE:MAA) from $72.00 to $71.00 in a research note issued to investors on Monday. RBC Capital’s target price would indicate a potential upside of 0.74% from the company’s current price.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded up 0.55% on Monday, hitting $70.87. 94,589 shares of the company’s stock traded hands. Mid-America Apartment Communities has a 1-year low of $59.23 and a 1-year high of $75.09. The stock has a 50-day moving average of $72.67 and a 200-day moving average of $69.64. The company has a market cap of $5.329 billion and a price-to-earnings ratio of 57.87.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, July 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by $0.07. The company had revenue of $244.49 million for the quarter, compared to the consensus estimate of $246.79 million. During the same quarter last year, the company posted $1.27 earnings per share. Mid-America Apartment Communities’s revenue was up 85.7% compared to the same quarter last year. On average, analysts predict that Mid-America Apartment Communities will post $4.99 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MAA. Analysts at Oppenheimer initiated coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, July 22nd. They set an “outperform” rating on the stock. Analysts at Morgan Stanley downgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “underweight” rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $69.50.
Mid-America Apartment Communities, Inc (NYSE:MAA) is a self-administered and self-managed real estate investment trust (REIT).
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