Mid-America Apartment Communities Inc. (MAA) Stock Rating Upgraded by DA Davidson
Mid-America Apartment Communities Inc. (NYSE:MAA) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $105.00 target price on the real estate investment trust’s stock. DA Davidson’s price objective suggests a potential upside of 17.98% from the company’s current price.
Several other analysts have also recently weighed in on MAA. Zacks Investment Research cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Jefferies Group lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $109.00 in a research note on Wednesday, August 10th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, August 16th. BMO Capital Markets lowered Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $108.00 to $114.00 in a research note on Friday, July 8th. They noted that the move was a valuation call. Finally, SunTrust Banks Inc. reissued a “hold” rating and issued a $110.00 price target (up from $103.00) on shares of Mid-America Apartment Communities in a research note on Friday, July 15th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $104.96.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.08. The company had revenue of $272.20 million for the quarter, compared to analysts’ expectations of $272.71 million. Mid-America Apartment Communities had a return on equity of 7.10% and a net margin of 20.93%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be paid a $0.82 dividend. 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 dividend payout ratio (DPR) is presently 111.56%.
A number of hedge funds and other institutional investors have recently made changes to their positions in MAA. Point72 Asia Hong Kong Ltd purchased a new position in shares of Mid-America Apartment Communities during the second quarter worth approximately $104,000. Synovus Financial Corp boosted its position in shares of 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 worth $143,000 after buying an additional 500 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Mid-America Apartment Communities during the second quarter worth approximately $149,000. Bessemer Group Inc. boosted its position in shares of 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 worth $156,000 after buying an additional 728 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Mid-America Apartment Communities during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 96.86% of the company’s stock.
About Mid-America Apartment Communities
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