Mid-America Apartment Communities Inc. (MAA) Stock Rating Upgraded by DA Davidson
Mid-America Apartment Communities Inc. (NYSE:MAA) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $105.00 price target on the real estate investment trust’s stock, down from their previous price target of $106.00. DA Davidson’s target price would indicate a potential upside of 17.98% from the stock’s current price.
A number of other research firms also recently commented on MAA. BTIG Research began coverage on Mid-America Apartment Communities in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. SunTrust Banks Inc. upgraded Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, August 19th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $115.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, August 16th. Jefferies Group downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating and dropped their price objective for the company from $115.00 to $109.00 in a report on Wednesday, August 10th. Finally, Citigroup Inc. increased their price objective on Mid-America Apartment Communities from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $104.96.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded up 1.20% on Monday, reaching $90.07. The company’s stock had a trading volume of 223,136 shares. The stock has a 50-day moving average price of $92.80 and a 200-day moving average price of $99.29. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 30.44 and a beta of 0.33. Mid-America Apartment Communities has a 1-year low of $82.05 and a 1-year high of $110.01.
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Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. The company had revenue of $272.20 million for the quarter, compared to analyst estimates of $272.71 million. Mid-America Apartment Communities had a return on equity of 7.10% and a net margin of 20.93%. Mid-America Apartment Communities’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. On average, equities research analysts forecast that Mid-America Apartment Communities will post $5.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $3.28 dividend on an annualized basis and a yield of 3.69%. Mid-America Apartment Communities’s payout ratio is 111.56%.
A number of hedge funds have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd bought a new stake in Mid-America Apartment Communities during the second quarter worth $104,000. Synovus Financial Corp boosted its stake in Mid-America Apartment Communities by 58.8% in the second quarter. Synovus Financial Corp now owns 1,350 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 500 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in Mid-America Apartment Communities during the second quarter valued at approximately $149,000. Bessemer Group Inc. boosted its stake in Mid-America Apartment Communities by 99.6% in the second quarter. Bessemer Group Inc. now owns 1,459 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 728 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Mid-America Apartment Communities during the first quarter valued at approximately $203,000. 96.86% of the stock is owned by institutional investors.
Mid-America Apartment Communities Company Profile
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