Wedbush Comments on Mid-America Apartment Communities, Inc.’s Q3 2024 Earnings (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Wedbush reduced their Q3 2024 earnings estimates for shares of Mid-America Apartment Communities in a research note issued on Monday, September 16th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $2.17 per share for the quarter, down from their prior forecast of $2.22. Wedbush currently has a “Outperform” rating and a $184.00 target price on the stock. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.88 per share. Wedbush also issued estimates for Mid-America Apartment Communities’ Q4 2024 earnings at $2.26 EPS, FY2024 earnings at $8.88 EPS and FY2025 earnings at $9.07 EPS.

MAA has been the subject of several other reports. Mizuho boosted their price objective on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Royal Bank of Canada upped their price target on Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Truist Financial lifted their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Finally, Piper Sandler lifted their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average target price of $159.91.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $163.92 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $19.15 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 3.66 and a beta of 0.88. Mid-America Apartment Communities has a 1 year low of $115.56 and a 1 year high of $167.39. The firm has a 50 day moving average price of $152.47 and a 200 day moving average price of $140.30.

Institutional Trading of Mid-America Apartment Communities

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Mid-America Apartment Communities by 323.8% in the fourth quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after acquiring an additional 30,855 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Mid-America Apartment Communities in the 1st quarter valued at approximately $15,413,000. Miller Howard Investments Inc. NY boosted its stake in shares of Mid-America Apartment Communities by 9.9% during the 1st quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock valued at $25,984,000 after buying an additional 17,765 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Mid-America Apartment Communities by 163.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 13,474 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Mid-America Apartment Communities by 159.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 16,144 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

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.