Mid-America Apartment Communities, Inc. (NYSE:MAA) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) have received an average rating of “Buy” from the fifteen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $107.73.
A number of equities analysts recently commented on the company. Barclays PLC dropped their price target on Mid-America Apartment Communities from $117.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday. Zacks Investment Research lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC reissued a “buy” rating and set a $115.00 price target on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. Finally, UBS AG lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price target for the company. in a research note on Thursday, July 6th.
In related news, Director Gary Shorb acquired 500 shares of the stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of $98.90 per share, with a total value of $49,450.00. Following the purchase, the director now directly owns 4,250 shares of the company’s stock, valued at $420,325. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.25% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of MAA. Creative Planning increased its stake in shares of Mid-America Apartment Communities by 50.7% in the first quarter. Creative Planning now owns 1,715 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 577 shares during the last quarter. Chickasaw Capital Management LLC acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $203,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $217,000. Rehmann Capital Advisory Group acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $227,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $239,000. Hedge funds and other institutional investors own 91.88% of the company’s stock.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded up 0.18% during trading on Friday, hitting $101.19. The company had a trading volume of 901,685 shares. Mid-America Apartment Communities has a 52 week low of $85.04 and a 52 week high of $110.95. The stock has a market capitalization of $11.49 billion, a P/E ratio of 42.88 and a beta of 0.35. The firm’s 50 day moving average is $105.26 and its 200-day moving average is $100.99.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $375.91 million during the quarter, compared to analyst estimates of $358.74 million. During the same period in the prior year, the company earned $1.50 earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis. Equities research analysts anticipate that Mid-America Apartment Communities will post $1.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, July 12th. Mid-America Apartment Communities’s payout ratio is 139.76%.
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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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