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

Mid-America Apartment Communities (NYSE:MAA) had its target price dropped by Evercore ISI from $144.00 to $143.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential upside of 7.35% from the company’s current price.

A number of other brokerages have also recently issued reports on MAA. Wells Fargo & Company dropped their price objective on Mid-America Apartment Communities from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. Barclays lowered their price target on shares of Mid-America Apartment Communities from $155.00 to $142.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, October 8th. Cantor Fitzgerald initiated 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. Finally, Scotiabank lowered shares of Mid-America Apartment Communities from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $146.00 to $142.00 in a research report on Friday, December 5th. Eight research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $154.89.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $133.21 on Monday. The firm’s 50 day moving average is $132.13 and its 200 day moving average is $140.70. The stock has a market capitalization of $15.60 billion, a P/E ratio of 28.22, a PEG ratio of 3.78 and a beta of 0.77. Mid-America Apartment Communities has a 12 month low of $125.75 and a 12 month high of $173.38. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.87.

Mid-America Apartment Communities (NYSE:MAA) last released 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 business had revenue of $554.37 million during 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 quarter in the prior year, the firm posted $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, sell-side analysts anticipate that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Insider Activity

In other news, CEO H Eric Bolton, Jr. acquired 578 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $129.36 per share, with a total value of $74,770.08. Following the acquisition, the chief executive officer owned 320,391 shares in the company, valued at approximately $41,445,779.76. This represents a 0.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adrian Hill purchased 758 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were acquired at an average cost of $131.83 per share, for a total transaction of $99,927.14. Following the completion of the purchase, the executive vice president directly owned 48,766 shares of the company’s stock, valued at approximately $6,428,821.78. This represents a 1.58% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Mid-America Apartment Communities in the 2nd quarter worth approximately $795,893,000. Viking Global Investors LP bought a new position in shares of Mid-America Apartment Communities in the third quarter worth approximately $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Mid-America Apartment Communities by 621.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock valued at $168,805,000 after buying an additional 1,040,525 shares during the period. Daiwa Securities Group Inc. grew its holdings in Mid-America Apartment Communities by 461.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 721,418 shares of the real estate investment trust’s stock worth $106,777,000 after acquiring an additional 593,020 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Mid-America Apartment Communities by 30.6% in the second quarter. Invesco Ltd. now owns 1,835,408 shares of the real estate investment trust’s stock valued at $271,659,000 after acquiring an additional 430,398 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

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.