Mid-America Apartment Communities (NYSE:MAA) Stock Price Target Cut by Cantor Fitzgerald

Mid-America Apartment Communities (NYSE:MAA) had its target price cut by equities researchers at Cantor Fitzgerald from $140.00 to $127.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 6.57% from the company’s current price.

MAA has been the topic of several other reports. Royal Bank Of Canada lowered their target price on shares of Mid-America Apartment Communities from $138.00 to $127.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 13th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities to a “hold” rating in a research note on Wednesday, July 22nd. Wall Street Zen lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Sunday, October 25th. The Goldman Sachs Group lowered their target price on Mid-America Apartment Communities from $142.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 21st. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Mid-America Apartment Communities in a research report on Tuesday, September 29th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.29.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $119.18 on Monday. The company’s 50-day moving average is $120.21 and its 200-day moving average is $128.78. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $13.82 billion, a PE ratio of 36.11 and a beta of 0.71. Mid-America Apartment Communities has a fifty-two week low of $113.95 and a fifty-two week high of $144.41.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The company had revenue of $560.13 million for the quarter, compared to the consensus estimate of $558.07 million. During the same period in the previous year, the firm posted $2.16 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that Mid-America Apartment Communities will post 8.50 EPS for the current year.

Insider Transactions at Mid-America Apartment Communities

In related news, EVP Adrian Hill purchased 844 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was bought at an average price of $118.35 per share, for a total transaction of $99,887.40. Following the purchase, the executive vice president directly owned 65,277 shares in the company, valued at approximately $7,725,532.95. This trade represents a 1.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

Institutional investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC boosted its position in shares of Mid-America Apartment Communities by 593.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 172 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $30,000. Raiffeisen Bank International AG grew its stake in Mid-America Apartment Communities by 116.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 221 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 119 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth $34,000. Finally, Jacobi Capital Management LLC bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities.

The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas.

Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H.