Mid-America Apartment Communities (NYSE:MAA) Stock Gets Downgrade from Morgan Stanley

Mid-America Apartment Communities (NYSE:MAA) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, FinViz reports. They currently have a $134.00 price target on the real estate investment trust’s stock, down from their prior price target of $147.00. Morgan Stanley‘s price target suggests a potential upside of 12.76% from the stock’s current price.

Several other research firms have also commented on MAA. BNP Paribas Exane raised shares of Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Barclays reduced their price objective on Mid-America Apartment Communities from $146.00 to $136.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. The Goldman Sachs Group lowered their target price on Mid-America Apartment Communities from $142.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. Wells Fargo & Company dropped their target price on Mid-America Apartment Communities from $146.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, KeyCorp reiterated an “overweight” rating on shares of Mid-America Apartment Communities in a research report on Tuesday, September 29th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.82.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $118.84 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.08. Mid-America Apartment Communities has a 12 month low of $113.95 and a 12 month high of $144.41. The company has a 50 day simple moving average of $119.81 and a two-hundred day simple moving average of $128.62. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 36.01 and a beta of 0.71.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $560.13 million during the quarter, compared to analyst estimates of $558.07 million. During the same quarter in the previous year, the company earned $2.16 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts predict that Mid-America Apartment Communities will post 8.50 earnings per share for the current year.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Adrian Hill purchased 844 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, October 30th. The stock was bought at an average price of $118.35 per share, with a total value of $99,887.40. Following the acquisition, the executive vice president owned 65,277 shares of the company’s stock, valued at $7,725,532.95. This trade represents a 1.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Mid-America Apartment Communities

Institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp raised its stake in shares of Mid-America Apartment Communities by 2.2% during the 3rd quarter. Fifth Third Bancorp now owns 3,795 shares of the real estate investment trust’s stock worth $447,000 after buying an additional 83 shares during the period. Keybank National Association OH grew its stake in Mid-America Apartment Communities by 1.8% in the 3rd quarter. Keybank National Association OH now owns 4,970 shares of the real estate investment trust’s stock valued at $585,000 after acquiring an additional 88 shares during the period. Telos Capital Management Inc. grew its stake in Mid-America Apartment Communities by 0.8% in the 3rd quarter. Telos Capital Management Inc. now owns 13,758 shares of the real estate investment trust’s stock valued at $1,620,000 after acquiring an additional 103 shares during the period. Allworth Financial LP grew its stake in Mid-America Apartment Communities by 0.3% in the 3rd quarter. Allworth Financial LP now owns 41,193 shares of the real estate investment trust’s stock valued at $4,850,000 after acquiring an additional 110 shares during the period. Finally, 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 valued at $31,000 after acquiring an additional 119 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

About Mid-America Apartment Communities

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. Eric Bolton Jr. since 2001.