Wedbush Reiterates “Neutral” Rating for Mid-America Apartment Communities (NYSE:MAA)

Mid-America Apartment Communities (NYSE:MAA)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a report released on Monday, Benzinga reports. They currently have a $135.00 target price on the real estate investment trust’s stock. Wedbush’s target price would suggest a potential upside of 3.85% from the company’s previous close.

MAA has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft started coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 price objective on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Truist Financial reduced their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Mizuho reduced their target price on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $143.06.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $130.00 on Monday. The business’s 50 day moving average is $129.10 and its 200-day moving average is $128.52. Mid-America Apartment Communities has a 1-year low of $115.56 and a 1-year high of $158.46. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm has a market cap of $15.17 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The company had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. During the same quarter last year, the business earned $2.32 EPS. Mid-America Apartment Communities’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that Mid-America Apartment Communities will post 8.92 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 2,807 shares of company stock valued at $353,955 in the last three months. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Raleigh Capital Management Inc. raised its position in shares of Mid-America Apartment Communities by 22.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 84 shares in the last quarter. First Financial Corp IN raised its position in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 86 shares in the last quarter. Blue Trust Inc. raised its position in shares of Mid-America Apartment Communities by 22.8% in the 4th quarter. Blue Trust Inc. now owns 511 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 95 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Mid-America Apartment Communities by 0.6% in the 4th quarter. Oakworth Capital Inc. now owns 15,212 shares of the real estate investment trust’s stock worth $2,045,000 after acquiring an additional 98 shares in the last quarter. Finally, Czech National Bank raised its position in shares of Mid-America Apartment Communities by 0.5% in the 1st quarter. Czech National Bank now owns 20,536 shares of the real estate investment trust’s stock worth $2,702,000 after acquiring an additional 99 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

About Mid-America Apartment Communities

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.