Mid-America Apartment Communities, Inc. (NYSE:MAA) has been given a consensus rating of “Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $149.08.
Several brokerages have weighed in on MAA. Mizuho increased their price target on shares of Mid-America Apartment Communities from $128.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, March 15th. Royal Bank of Canada began coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, March 30th. They set a “sector perform” rating and a $146.00 price target for the company. Truist Securities raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their price target for the company from $151.00 to $178.00 in a research report on Friday, June 4th. Truist raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their target price for the stock from $151.00 to $178.00 in a research report on Friday, June 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $147.00 to $170.00 in a research report on Tuesday, June 1st.
Shares of Mid-America Apartment Communities stock traded down $0.48 during trading on Tuesday, reaching $171.11. The company’s stock had a trading volume of 2,588 shares, compared to its average volume of 588,180. Mid-America Apartment Communities has a 52-week low of $108.06 and a 52-week high of $172.33. The company has a market cap of $19.59 billion, a P/E ratio of 74.62, a price-to-earnings-growth ratio of 13.09 and a beta of 0.66. The firm has a 50-day simple moving average of $157.27. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.77.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($1.21). The firm had revenue of $425.01 million for the quarter, compared to analysts’ expectations of $423.65 million. Mid-America Apartment Communities had a net margin of 15.76% and a return on equity of 4.33%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. As a group, analysts predict that Mid-America Apartment Communities will post 6.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Thursday, July 15th will be paid a $1.025 dividend. The ex-dividend date is Wednesday, July 14th. This represents a $4.10 annualized dividend and a dividend yield of 2.40%. Mid-America Apartment Communities’s payout ratio is 63.76%.
In related news, COO Thomas L. Grimes, Jr. sold 683 shares of the stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total value of $100,018.52. Following the completion of the transaction, the chief operating officer now directly owns 82,192 shares in the company, valued at approximately $12,036,196.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Albert M. Campbell III sold 691 shares of the stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $146.44, for a total transaction of $101,190.04. Following the completion of the transaction, the chief financial officer now owns 73,087 shares of the company’s stock, valued at $10,702,860.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,671 shares of company stock valued at $7,103,280. 1.39% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. PrairieView Partners LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter valued at about $25,000. Bessemer Group Inc. increased its stake in Mid-America Apartment Communities by 72.8% during the 1st quarter. Bessemer Group Inc. now owns 178 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in Mid-America Apartment Communities during the 1st quarter valued at about $29,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $41,000. Finally, CWM LLC boosted its holdings in shares of Mid-America Apartment Communities by 328.2% during the 1st quarter. CWM LLC now owns 304 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds own 91.74% of the company’s stock.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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