Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $164.00 by Analysts at Wells Fargo & Company

Mid-America Apartment Communities (NYSE:MAA) had its price target dropped by research analysts at Wells Fargo & Company from $174.00 to $164.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 11.16% from the stock’s current price.

A number of other brokerages have also weighed in on MAA. KeyCorp upgraded 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. JMP Securities reiterated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, January 10th. Barclays decreased their target price on shares of Mid-America Apartment Communities from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Friday. Scotiabank decreased their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $166.00.

Mid-America Apartment Communities Stock Up 0.4 %

Shares of MAA traded up $0.63 during mid-day trading on Friday, reaching $147.53. The company had a trading volume of 48,789 shares, compared to its average volume of 587,184. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a 50-day moving average price of $155.33 and a 200 day moving average price of $154.33. Mid-America Apartment Communities has a 52 week low of $121.51 and a 52 week high of $167.39. The company has a market capitalization of $17.24 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. Activest Wealth Management bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $32,000. Catalyst Capital Advisors LLC bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $37,000. Quarry LP bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $45,000. Finally, UMB Bank n.a. lifted its holdings in shares of Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

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.