Truist Financial Lowers Mid-America Apartment Communities (NYSE:MAA) Price Target to $146.00

Mid-America Apartment Communities (NYSE:MAA) had its price target reduced by Truist Financial from $158.00 to $146.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 12.85% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Mid-America Apartment Communities from $177.00 to $169.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 13th. Barclays reduced their target price on shares of Mid-America Apartment Communities from $156.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 30th. Scotiabank dropped their target price on Mid-America Apartment Communities from $162.00 to $146.00 and set a “sector outperform” rating on the stock in a report on Tuesday, November 4th. BNP Paribas cut Mid-America Apartment Communities from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Finally, Piper Sandler lowered their price target on Mid-America Apartment Communities from $153.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $156.50.

Mid-America Apartment Communities Price Performance

MAA traded down $0.27 during midday trading on Monday, hitting $129.38. The stock had a trading volume of 422,608 shares, compared to its average volume of 902,703. Mid-America Apartment Communities has a 1 year low of $125.75 and a 1 year high of $173.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. The business has a fifty day moving average of $136.60 and a 200 day moving average of $145.87. The company has a market cap of $15.15 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 3.38 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.01). Mid-America Apartment Communities had a return on equity of 9.10% and a net margin of 25.23%.The business had revenue of $554.37 million during the quarter, compared to the consensus estimate of $557.22 million. During the same quarter in the previous year, the firm posted $2.21 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. As a group, equities analysts forecast that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. bought 578 shares of the business’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $129.36 per share, with a total value of $74,770.08. Following the transaction, the chief executive officer owned 320,391 shares in the company, valued at approximately $41,445,779.76. This trade represents a 0.18% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its position in Mid-America Apartment Communities by 35.4% in the third quarter. Citigroup Inc. now owns 248,686 shares of the real estate investment trust’s stock worth $34,749,000 after purchasing an additional 65,041 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $203,000. Ontario Teachers Pension Plan Board raised its position in Mid-America Apartment Communities by 47.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 42,701 shares of the real estate investment trust’s stock worth $5,967,000 after acquiring an additional 13,780 shares during the period. Syon Capital LLC grew its position in shares of Mid-America Apartment Communities by 108.6% during the 3rd quarter. Syon Capital LLC now owns 3,865 shares of the real estate investment trust’s stock valued at $540,000 after acquiring an additional 2,012 shares during the period. Finally, Drucker Wealth 3.0 LLC grew its position in shares of Mid-America Apartment Communities by 105.0% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 4,574 shares of the real estate investment trust’s stock valued at $639,000 after acquiring an additional 2,343 shares during the period. Hedge funds and other 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.