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Investing.com - Citizens JMP analyst reiterated a Market Outperform rating and $170.00 price target on Mid-America Apartment Communities (NYSE:MAA), a REIT with a strong dividend track record spanning 32 consecutive years, following the company’s second-quarter 2025 results. According to InvestingPro data, MAA maintains a "GOOD" overall financial health score of 2.52 out of 5.
MAA reported Core FFO of $2.15 per share, slightly below Citizens’ estimate of $2.16 but above the consensus forecast of $2.14 per share. The result exceeded management’s projection of $2.13 Core FFO per share while remaining within the company’s guided range of $2.05-$2.21. The company’s solid performance is reflected in its robust 58.85% gross profit margin and $2.2 billion in revenue over the last twelve months.
Despite the quarterly performance, Mid-America Apartment Communities maintained its full-year FFO expectations based on year-to-date results. The company reported that absorptions across its markets are at their highest level in over 25 years, while the resident turnover rate has reached a historical low of 41%.
The research firm noted that new lease rate growth is slightly lagging expectations as existing supply is being absorbed in several Sunbelt markets, though this is currently being offset by positive expense benefits.
Citizens’ $170 price target represents potential 19.4% capital appreciation and a current yield of 4.3% for a total potential return of 23.5%, according to the firm’s analysis.
In other recent news, Mid-America Apartment Communities reported its Q2 2025 earnings, with an earnings per share (EPS) of $0.92, exceeding analyst expectations of $0.88 by 4.55%. However, the company’s revenue slightly missed forecasts, totaling $549.9 million against the anticipated $551.49 million. Despite the EPS beat, the mixed results led to a decline in the stock price in after-hours trading. In analyst activity, Mizuho (NYSE:MFG) upgraded the company’s stock rating from Neutral to Outperform, citing expectations for accelerating blended rents and core growth extending into 2026. They also adjusted the price target to $150.00 from $161.00. Truist Securities maintained a Buy rating but lowered its price target to $158.00, reflecting a more conservative growth forecast amid slumping national employment. KeyBanc also revised its price target down to $170.00, while maintaining an Overweight rating, due to expectations of a gradual recovery in Sunbelt apartment fundamentals in the latter half of 2025. These developments highlight ongoing adjustments in analyst expectations and market conditions for Mid-America Apartment Communities.
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