Mid-America Apartment Communities, Inc. (MAA) Receives Consensus Rating of “Buy” from Brokerages
Mid-America Apartment Communities, Inc. (NYSE:MAA) has received an average recommendation of “Buy” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $108.91.
A number of brokerages recently issued reports on MAA. BidaskClub upgraded Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC boosted their price objective on Mid-America Apartment Communities from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 30th. Barclays PLC began coverage on Mid-America Apartment Communities in a research note on Monday, March 27th. They issued an “overweight” rating and a $116.00 price objective on the stock. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th.
In related news, Director Gary Shorb purchased 500 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were purchased at an average cost of $98.90 per share, for a total transaction of $49,450.00. Following the completion of the transaction, the director now directly owns 4,250 shares in the company, valued at approximately $420,325. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.25% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position 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 valued at $5,778,000 after buying an additional 27,752 shares during the period. Pictet Asset Management Ltd. boosted its position 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 valued at $6,420,000 after buying an additional 4,300 shares during the period. Denver Investment Advisors LLC bought a new position in Mid-America Apartment Communities during the first quarter valued at $1,247,000. MUFG Americas Holdings Corp bought a new position in Mid-America Apartment Communities during the first quarter valued at $1,517,000. Finally, Toronto Dominion Bank boosted its position 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 valued at $3,117,000 after buying an additional 11,063 shares during the period. Institutional investors own 93.10% of the company’s stock.
Mid-America Apartment Communities (NYSE MAA) traded down 0.53% during mid-day trading on Monday, reaching $108.60. 561,584 shares of the company’s stock traded hands. Mid-America Apartment Communities has a 1-year low of $85.04 and a 1-year high of $110.95. The firm has a market cap of $12.33 billion, a PE ratio of 46.02 and a beta of 0.35. The firm has a 50 day moving average of $102.77 and a 200 day moving average of $99.63.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.02. Mid-America Apartment Communities had a return on equity of 5.02% and a net margin of 17.03%. The business had revenue of $375.91 million for the quarter, compared to analysts’ expectations of $358.74 million. During the same period in the previous year, the business posted $1.50 EPS. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. Analysts forecast that Mid-America Apartment Communities will post $1.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Wednesday, July 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 139.76%.
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.
Receive News & Ratings for Mid-America Apartment Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.