Evercore ISI Issues Pessimistic Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA) had its price objective trimmed by Evercore ISI from $155.00 to $152.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. UBS Group cut their price target on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating for the company in a report on Tuesday, July 15th. Barclays lifted their price target on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Truist Financial lowered their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Robert W. Baird boosted their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, Raymond James Financial cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $164.79.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $138.56 on Tuesday. Mid-America Apartment Communities has a 1-year low of $137.32 and a 1-year high of $173.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market capitalization of $16.22 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.71 and a beta of 0.75. The company’s fifty day moving average price is $148.31 and its 200-day moving average price is $155.71.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The business had revenue of $549.90 million for the quarter, compared to analyst estimates of $552.19 million. During the same period in the prior year, the company posted $2.22 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were paid a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is 124.69%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MAA. Financial Network Wealth Advisors LLC bought a new position in shares of Mid-America Apartment Communities in the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Mid-America Apartment Communities in the second quarter worth about $26,000. Larson Financial Group LLC grew its position in Mid-America Apartment Communities by 107.1% during the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 91 shares in the last quarter. Sound Income Strategies LLC lifted its stake in 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 valued at $29,000 after acquiring an additional 175 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in Mid-America Apartment Communities in the first quarter valued at approximately $34,000. 93.60% of the stock is currently owned by institutional investors.

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.