Royal Bank of Canada Reiterates Sector Perform Rating for Mid-America Apartment Communities (NYSE:MAA)

Mid-America Apartment Communities (NYSE:MAAGet Free Report)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $136.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s price target points to a potential upside of 9.22% from the company’s current price.

A number of other brokerages also recently commented on MAA. Bank of America downgraded Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $136.00 to $112.00 in a research note on Tuesday, October 31st. Mizuho upped their price objective on Mid-America Apartment Communities from $124.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Piper Sandler cut Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and cut their target price for the company from $182.00 to $130.00 in a research note on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $139.00 price target for the company. Finally, Jefferies Financial Group restated a “hold” rating and issued a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities has an average rating of “Hold” and a consensus price target of $145.26.

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Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $124.52 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.26 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 4.69 and a beta of 0.81. Mid-America Apartment Communities has a twelve month low of $115.56 and a twelve month high of $173.43. The business has a 50 day simple moving average of $131.47 and a 200-day simple moving average of $132.76.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The business had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. During the same quarter in the previous year, the firm earned $2.32 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Mid-America Apartment Communities will post 9.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Melanie Carpenter sold 371 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the sale, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,028 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the transaction, the chief executive officer now owns 304,523 shares in the company, valued at approximately $39,651,939.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Melanie Carpenter sold 371 shares of Mid-America Apartment Communities stock in a transaction on Monday, January 8th. The shares were sold at an average price of $131.33, for a total transaction of $48,723.43. Following the sale, the executive vice president now directly owns 19,067 shares of the company’s stock, valued at approximately $2,504,069.11. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Mid-America Apartment Communities by 228.2% during the 1st quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock worth $834,000 after purchasing an additional 2,770 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Mid-America Apartment Communities by 62.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock worth $1,078,000 after purchasing an additional 1,974 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Mid-America Apartment Communities by 22.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 325 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Mid-America Apartment Communities during the 1st quarter valued at $393,000. Finally, Sei Investments Co. lifted its stake in shares of Mid-America Apartment Communities by 7.5% in the 1st quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock valued at $10,619,000 after purchasing an additional 3,544 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

(Get Free Report)

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

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Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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