Mid-America Apartment Communities (NYSE:MAA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Shares of Mid-America Apartment Communities — commonly known as MAA — have underperformed the industry it belongs to, in the past six months. Also, the stock has seen the Zacks Consensus Estimate for fourth quarter 2017 funds from operations (FFO) per share being revised downward in a month’s time. Elevated supply in certain regions is anticipated to taper the company’s growth momentum in the near term. Also, higher concentration of its operations in certain markets makes earnings susceptible to the local economic conditions.In addition, stiff competition from other housing alternatives limits the company’s ability to raise rents or increase occupancy. Hike in interest rates remains a concern. Nonetheless, MAA’s solid balance sheet will aid in pursuing additional opportunistic investments in dynamic markets.”

A number of other research analysts have also weighed in on the stock. Jefferies Group lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, December 14th. Raymond James Financial reiterated a “market perform” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, November 29th. UBS Group lowered shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 29th. BMO Capital Markets lowered shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 price objective for the company. in a research note on Monday, November 27th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $110.50.

Shares of Mid-America Apartment Communities (MAA) opened at $92.07 on Friday. Mid-America Apartment Communities has a 1-year low of $91.98 and a 1-year high of $110.95. The company has a market cap of $10,460.00, a P/E ratio of 41.47, a P/E/G ratio of 2.22 and a beta of 0.34.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The business had revenue of $384.60 million during the quarter, compared to analyst estimates of $386.96 million. During the same period in the previous year, the business earned $1.47 EPS. Mid-America Apartment Communities’s revenue was up 38.9% compared to the same quarter last year. equities analysts predict that Mid-America Apartment Communities will post 5.92 earnings per share for the current year.

In other news, Director William Reid Sanders purchased 7,000 shares of Mid-America Apartment Communities stock in a transaction dated Friday, October 27th. The stock was purchased at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the transaction, the director now directly owns 8,209 shares of the company’s stock, valued at $821,802.99. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought a total of 7,116 shares of company stock valued at $710,687 over the last 90 days. Company insiders own 1.25% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its position in shares of Mid-America Apartment Communities by 7.8% during the 3rd quarter. Prudential Financial Inc. now owns 851,398 shares of the real estate investment trust’s stock valued at $90,998,000 after purchasing an additional 61,244 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Mid-America Apartment Communities by 3.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 195,999 shares of the real estate investment trust’s stock valued at $20,948,000 after purchasing an additional 7,197 shares in the last quarter. AXA grew its position in shares of Mid-America Apartment Communities by 14.8% during the 3rd quarter. AXA now owns 123,416 shares of the real estate investment trust’s stock valued at $13,191,000 after purchasing an additional 15,936 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Mid-America Apartment Communities by 1.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 273,589 shares of the real estate investment trust’s stock valued at $29,241,000 after purchasing an additional 3,852 shares in the last quarter. Finally, Hahn Capital Management LLC grew its position in shares of Mid-America Apartment Communities by 0.9% during the 3rd quarter. Hahn Capital Management LLC now owns 276,372 shares of the real estate investment trust’s stock valued at $29,539,000 after purchasing an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

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About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

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