Mid-America Apartment Communities, Inc. Forecasted to Earn Q3 2024 Earnings of $2.17 Per Share (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Investment analysts at Wedbush reduced their Q3 2024 EPS estimates for shares of Mid-America Apartment Communities in a research report issued to clients and investors on Monday, September 16th. Wedbush analyst R. Anderson now forecasts 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.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada increased their price objective on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Mizuho increased their price target on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Thursday, June 13th. Finally, Scotiabank raised their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $159.91.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $162.46 on Thursday. The firm has a market cap of $18.98 billion, a PE ratio of 34.06, a P/E/G ratio of 3.66 and a beta of 0.88. The firm has a 50 day simple moving average of $153.42 and a 200-day simple moving average of $140.63. Mid-America Apartment Communities has a 1-year low of $115.56 and a 1-year high of $167.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12.

Institutional Trading of Mid-America Apartment Communities

Several large investors have recently bought and sold shares of MAA. Principal Securities Inc. acquired a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at about $109,000. Janney Montgomery Scott LLC raised its stake in shares of Mid-America Apartment Communities by 163.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after buying an additional 13,474 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at about $744,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Mid-America Apartment Communities by 34.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,872 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 740 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Mid-America Apartment Communities by 26.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,310 shares of the real estate investment trust’s stock worth $1,521,000 after buying an additional 2,397 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

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.