Mid-America Apartment Communities, Inc. (MAA) Raised to “Strong-Buy” at BidaskClub
Mid-America Apartment Communities, Inc. (NYSE:MAA) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.
MAA has been the subject of a number of other research reports. Barclays PLC reaffirmed an “overweight” rating and issued a $117.00 price objective (up previously from $116.00) on shares of Mid-America Apartment Communities in a report on Wednesday, April 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mid-America Apartment Communities in a report on Thursday, April 27th. Finally, Jefferies Group LLC lifted their price objective on shares of Mid-America Apartment Communities from $109.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 30th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $108.00.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded down 0.41% on Tuesday, reaching $109.87. 618,875 shares of the company traded hands. Mid-America Apartment Communities has a 1-year low of $85.04 and a 1-year high of $110.95. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 46.56 and a beta of 0.35. The company has a 50-day moving average of $102.47 and a 200-day moving average of $99.48.
Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.02. Mid-America Apartment Communities had a net margin of 17.03% and a return on equity of 5.02%. The firm had revenue of $375.91 million during the quarter, compared to analysts’ expectations of $358.74 million. During the same quarter last year, the company posted $1.50 earnings per share. The firm’s revenue was up 39.7% compared to the same quarter last year. Analysts anticipate that Mid-America Apartment Communities will post $1.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be paid a dividend of $0.87 per share. The ex-dividend date is Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.17%. Mid-America Apartment Communities’s dividend payout ratio is currently 139.76%.
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In related news, Director Gary Shorb bought 500 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average price of $98.90 per share, with a total value of $49,450.00. Following the completion of the purchase, the director now directly owns 4,250 shares of the company’s stock, valued at $420,325. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.66% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in Mid-America Apartment Communities by 88.8% in the fourth quarter. Macquarie Group Ltd. now owns 59,012 shares of the real estate investment trust’s stock worth $5,778,000 after buying an additional 27,752 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Mid-America Apartment Communities by 7.3% in the first quarter. Pictet Asset Management Ltd. now owns 63,101 shares of the real estate investment trust’s stock worth $6,420,000 after buying an additional 4,300 shares in the last quarter. Denver Investment Advisors LLC bought a new stake in Mid-America Apartment Communities during the first quarter worth approximately $1,247,000. MUFG Americas Holdings Corp bought a new stake in Mid-America Apartment Communities during the first quarter worth approximately $1,517,000. Finally, Toronto Dominion Bank boosted its stake in Mid-America Apartment Communities by 56.5% in the first quarter. Toronto Dominion Bank now owns 30,641 shares of the real estate investment trust’s stock worth $3,117,000 after buying an additional 11,063 shares in the last quarter. 93.10% of the stock is owned by institutional investors and hedge funds.
About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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