Mid-America Apartment Communities (NYSE:MAA – Get Free Report) was downgraded by analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Marketbeat.com reports.
Several other equities analysts also recently weighed in on MAA. JMP Securities raised their price target on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 22nd. Scotiabank decreased their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 13th. Truist Financial dropped their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. Robert W. Baird upped their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $169.76.
Read Our Latest Stock Report on MAA
Mid-America Apartment Communities Stock Performance
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The business had revenue of $549.30 million during the quarter, compared to analysts’ expectations of $551.21 million. During the same period last year, the company posted $2.22 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, research analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.
Insider Buying and Selling
In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the sale, the executive vice president now owns 3,012 shares of the company’s stock, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,313 shares of company stock valued at $1,171,707. Company insiders own 1.20% of the company’s stock.
Hedge Funds Weigh In On Mid-America Apartment Communities
A number of institutional investors have recently made changes to their positions in MAA. Larson Financial Group LLC increased its stake in shares of Mid-America Apartment Communities by 107.1% in the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 91 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth about $29,000. AlphaQuest LLC bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth about $34,000. CoreCap Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 94.9% in the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 112 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in shares of Mid-America Apartment Communities during the first quarter worth about $36,000. 93.60% of the stock is owned by institutional investors and hedge funds.
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.
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