Mid-America Apartment Communities (NYSE:MAA) Given New $170.00 Price Target at JMP Securities

Mid-America Apartment Communities (NYSE:MAA) had its price target hoisted by analysts at JMP Securities from $160.00 to $170.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price objective would indicate a potential upside of 11.31% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird raised 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 research note on Thursday, May 1st. Wall Street Zen downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday. Evercore ISI raised their target price on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Scotiabank raised their target price on shares of Mid-America Apartment Communities from $182.00 to $194.00 and gave the company a “sector outperform” rating in a research note on Monday, May 12th. Finally, Truist Financial decreased their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $169.50.

Mid-America Apartment Communities Trading Down 1.1%

Shares of MAA opened at $152.73 on Thursday. The firm’s 50-day moving average price is $159.91 and its 200-day moving average price is $158.25. The firm has a market capitalization of $17.88 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 3.72 and a beta of 0.80. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities has a 1-year low of $126.77 and a 1-year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 EPS. Sell-side analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Insiders Place Their Bets

In other Mid-America Apartment Communities 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 completion of the sale, the chief executive officer now owns 324,171 shares of the company’s stock, valued at approximately $53,890,187.04. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares of the company’s stock, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,313 shares of company stock valued at $1,171,707. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its stake in shares of Mid-America Apartment Communities by 6.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,021 shares of the real estate investment trust’s stock worth $169,000 after acquiring an additional 65 shares during the last quarter. Alhambra Investment Management LLC boosted its stake in shares of Mid-America Apartment Communities by 3.1% during the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 66 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Mid-America Apartment Communities by 0.9% during the 4th quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust’s stock worth $1,233,000 after acquiring an additional 68 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 68 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of Mid-America Apartment Communities by 0.6% during the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock worth $1,704,000 after acquiring an additional 69 shares during the last quarter. 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.