Mid-America Apartment Communities (NYSE:MAA) Hits New 1-Year Low Following Analyst Downgrade

Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating)’s share price reached a new 52-week low during trading on Tuesday after Mizuho lowered their price target on the stock from $178.00 to $177.00. Mizuho currently has a neutral rating on the stock. Mid-America Apartment Communities traded as low as $158.70 and last traded at $158.72, with a volume of 9690 shares. The stock had previously closed at $165.12.

Several other analysts have also commented on MAA. Jefferies Financial Group dropped their target price on Mid-America Apartment Communities from $212.00 to $201.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. JMP Securities raised Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a report on Friday, July 29th. Citigroup raised their price objective on Mid-America Apartment Communities to $190.00 in a report on Tuesday, August 9th. Truist Financial raised their price objective on Mid-America Apartment Communities from $188.00 to $198.00 in a report on Wednesday, August 24th. Finally, Piper Sandler dropped their price objective on Mid-America Apartment Communities from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.86.

Insider Activity

In related news, EVP Melanie Carpenter sold 1,355 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $186.27, for a total transaction of $252,395.85. Following the transaction, the executive vice president now owns 17,953 shares in the company, valued at $3,344,105.31. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clarius Group LLC grew its stake in shares of Mid-America Apartment Communities by 4.0% in the second quarter. Clarius Group LLC now owns 1,496 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 57 shares in the last quarter. CAPROCK Group Inc. grew its stake in shares of Mid-America Apartment Communities by 6.6% in the first quarter. CAPROCK Group Inc. now owns 973 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 60 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Mid-America Apartment Communities by 3.7% in the second quarter. Inspire Investing LLC now owns 1,765 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 63 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in shares of Mid-America Apartment Communities by 5.5% in the second quarter. Vestmark Advisory Solutions Inc. now owns 1,245 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 65 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its stake in shares of Mid-America Apartment Communities by 3.5% in the first quarter. Kathmere Capital Management LLC now owns 1,969 shares of the real estate investment trust’s stock valued at $412,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Mid-America Apartment Communities Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a 50 day moving average price of $174.67 and a two-hundred day moving average price of $184.30. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 10.02 and a beta of 0.76.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last released its earnings results on Wednesday, July 27th. The real estate investment trust reported $1.82 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.18). Mid-America Apartment Communities had a return on equity of 10.01% and a net margin of 31.30%. The company had revenue of $495.04 million for the quarter, compared to analyst estimates of $488.64 million. During the same period in the previous year, the firm earned $1.69 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, analysts expect that Mid-America Apartment Communities, Inc. will post 8.28 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, July 25th. Investors of record on Friday, July 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, July 14th. This represents a yield of 2.85%. Mid-America Apartment Communities’s payout ratio is 98.04%.

About Mid-America Apartment Communities

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MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

Further Reading

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