Mid-America Apartment Communities

MAA · NYSE

$117.36+$1.56 (+1.35%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $115.80

MAA analyst rating

HoldConsensus of 17 analysts over the last 12 months. 41% rate it a buy.

Strong buy0
Buy7
Hold9
Underperform1
Sell0

12-month price target · 27 analysts

Average $144.07 (+22.8% upside)

Low: $122.21
Now: $117.36
High: $168.00

Upgrades and downgrades

The latest rating actions, newest first

MAA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 19, 2026	Maintains	Overweight	$146.00 → $131.00	48%
UBS	Oct 14, 2026	Maintains	Neutral	$129.00 → $123.00	27%
Barclays	Oct 14, 2026	Maintains	Equal-Weight	$146.00 → $136.00	38%
RBC Capital	Oct 13, 2026	Maintains	Sector Perform	$138.00 → $127.00	38%
Piper Sandler	Oct 12, 2026	Maintains	Neutral	$140.00 → $121.00	44%
Evercore ISI Group	Sep 21, 2026	Maintains	In-Line	$129.00 → $123.00	45%
Truist Securities	Sep 17, 2026	Maintains	Buy	$146.00 → $132.00	45%
Scotiabank	Sep 17, 2026	Maintains	Sector Underperform	$134.00 → $125.00	47%
UBS	Sep 15, 2026	Initiates	Neutral	$132.00 → $129.00	27%
Evercore ISI Group	Sep 14, 2026	Maintains	In-Line	$130.00 → $129.00	45%

The case for and against

Updated Oct 17, 2026

Bull case

Mid-America Apartment is viewed positively because its balance sheet is exceptionally strong, with the lowest financial leverage in the sector at 4.5x net debt/EBITDA, giving it flexibility to fund dividends and pursue opportunities even amid refinancing headwinds. The stock also screens as undervalued, trading at a 16% discount to NAV and around a 6.1% to 6.5% implied cap rate, which appears to overstate the impact of Sunbelt supply concerns and creates upside from relative mispricing. While normalized FFO per share is projected to dip 3.3% in 2026 and 0.3% in 2027, the expected abatement of historically high new supply throughout 2026 and into 2027 supports a recovery case, and the company’s longer-term growth profile is seen as among the strongest in the sector.

Bear case

Mid-America Apartment is facing a softer fundamental outlook as higher interest rates are pressuring acquisition economics and prompting cuts to 2026 and 2027 normalized FFO estimates, even while leverage on future debt maturities could weigh further on cash flow. The company’s 2026 normalized FFO estimate was trimmed to $8.45 per share, below consensus, and 2027 same-store revenue growth is expected to slow to just 1.7% to 1.9% as expense growth outpaces rent growth. Weak job trends, falling wage growth relative to inflation, and the risk of weaker apartment demand in Dallas, Atlanta, and secondary Sunbelt markets add to the concern despite a slowing pace of new supply.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.