BMO Capital Markets Issues Pessimistic Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA) had its price target dropped by BMO Capital Markets from $157.00 to $155.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target indicates a potential upside of 5.34% from the company’s current price.

Several other research firms have also commented on MAA. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research note on Tuesday, December 17th. Scotiabank cut their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Mizuho reduced their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, January 10th. Finally, Barclays began coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $166.29.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $147.15 on Tuesday. Mid-America Apartment Communities has a 1 year low of $121.51 and a 1 year high of $167.39. The firm has a market cap of $17.20 billion, a P/E ratio of 33.22, a PEG ratio of 2.41 and a beta of 0.91. The stock has a fifty day moving average price of $155.54 and a two-hundred day moving average price of $154.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same period in the prior year, the business earned $2.29 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that Mid-America Apartment Communities will post 8.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $2,890,000. Swedbank AB boosted its holdings in Mid-America Apartment Communities by 2.6% in the 3rd quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock valued at $32,350,000 after purchasing an additional 5,178 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Mid-America Apartment Communities by 2.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock worth $28,711,000 after purchasing an additional 4,301 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth about $4,304,000. Finally, Capital Investment Advisors LLC raised its position in shares of Mid-America Apartment Communities by 27.1% during the fourth quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust’s stock valued at $9,040,000 after buying an additional 12,454 shares during 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.