Mid-America Apartment Communities (NYSE:MAA) Given New $194.00 Price Target at Scotiabank

Mid-America Apartment Communities (NYSE:MAA) had its price target hoisted by stock analysts at Scotiabank from $182.00 to $194.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target indicates a potential upside of 19.04% from the stock’s current price.

A number of other equities analysts also recently commented on MAA. Barclays raised their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price objective for the company from $148.00 to $190.00 in a research note on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Robert W. Baird lifted their target price on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Truist Financial raised their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.55.

Mid-America Apartment Communities Price Performance

MAA stock traded down $0.05 on Monday, reaching $162.97. 194,059 shares of the company’s stock were exchanged, compared to its average volume of 732,402. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market cap of $19.08 billion, a PE ratio of 36.38, a P/E/G ratio of 3.72 and a beta of 0.80. Mid-America Apartment Communities has a twelve month low of $126.77 and a twelve month high of $176.02. The stock has a fifty day moving average of $161.03 and a 200-day moving average of $157.84.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. The business had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.22 earnings per share. As a group, equities analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO H Eric Bolton, Jr. sold 4,358 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the transaction, the chief executive officer now directly owns 324,171 shares of the company’s stock, valued at $53,890,187.04. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,313 shares of company stock worth $1,171,707 over the last three months. Insiders own 1.20% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently modified their holdings of MAA. Alhambra Investment Management LLC grew its position in Mid-America Apartment Communities by 3.1% in the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 66 shares in the last quarter. Inspire Investing LLC grew its position in Mid-America Apartment Communities by 0.9% in the 4th quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust’s stock worth $1,233,000 after purchasing an additional 68 shares in the last quarter. IFP Advisors Inc grew its position in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Sanctuary Advisors LLC grew its position in Mid-America Apartment Communities by 0.6% in the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 69 shares in the last quarter. Finally, Huntington National Bank grew its position in Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.