Wells Fargo & Company Lowers Mid-America Apartment Communities (NYSE:MAA) Price Target to $150.00

Mid-America Apartment Communities (NYSE:MAA) had its price target dropped by stock analysts at Wells Fargo & Company from $157.00 to $150.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 10.81% from the company’s previous close.

MAA has been the topic of several other research reports. Cantor Fitzgerald started coverage on Mid-America Apartment Communities in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $150.00 price target on the stock. BNP Paribas Exane lowered Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating in a research report on Monday, September 29th. Scotiabank reduced their price target on Mid-America Apartment Communities from $162.00 to $146.00 and set a “sector outperform” rating for the company in a research report on Tuesday, November 4th. KeyCorp decreased their price target on shares of Mid-America Apartment Communities from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Finally, Morgan Stanley cut their price objective on shares of Mid-America Apartment Communities from $169.00 to $164.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $154.89.

Mid-America Apartment Communities Trading Up 1.5%

Shares of NYSE MAA traded up $2.06 during mid-day trading on Tuesday, hitting $135.37. The company’s stock had a trading volume of 92,883 shares, compared to its average volume of 906,296. The company’s fifty day simple moving average is $133.87 and its 200-day simple moving average is $143.47. Mid-America Apartment Communities has a one year low of $125.75 and a one year high of $173.38. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 3.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.01). Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.10%. The company had revenue of $554.37 million during the quarter, compared to the consensus estimate of $557.22 million. During the same quarter in the prior year, the company posted $2.21 EPS. The company’s revenue for the quarter 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. On average, sell-side analysts anticipate that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. bought 578 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $129.36 per share, with a total value of $74,770.08. Following the acquisition, the chief executive officer directly owned 320,391 shares in the company, valued at $41,445,779.76. This represents a 0.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at approximately $25,000. Financial Network Wealth Advisors LLC bought a new position in shares of Mid-America Apartment Communities during the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Mid-America Apartment Communities during the second quarter worth $26,000. Tobam acquired a new position in shares of Mid-America Apartment Communities during the third quarter worth $26,000. Finally, Sound Income Strategies LLC grew its stake in shares of Mid-America Apartment Communities by 972.2% in the second quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

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.