Mid-America Apartment Communities, Inc. (MAA) Receives Average Rating of “Buy” from Analysts
Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) have been assigned a consensus recommendation of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $108.64.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. UBS AG cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price target on the stock. in a research report on Thursday, July 6th. Barclays PLC reiterated an “overweight” rating and issued a $117.00 price target (up from $116.00) on shares of Mid-America Apartment Communities in a research report on Wednesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $112.00 price target on shares of Mid-America Apartment Communities in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Monday, July 17th.
Institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted its position in Mid-America Apartment Communities by 32.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 382 shares during the period. Creative Planning boosted its position in 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 period. Chickasaw Capital Management LLC acquired a new position in Mid-America Apartment Communities during the first quarter valued at $203,000. Commerce Bank acquired a new position in Mid-America Apartment Communities during the second quarter valued at $223,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Mid-America Apartment Communities during the first quarter valued at $217,000. 92.35% of the stock is currently owned by institutional investors.
Mid-America Apartment Communities (NYSE:MAA) traded up 0.85% during trading on Tuesday, reaching $107.10. 677,129 shares of the company’s stock traded hands. Mid-America Apartment Communities has a 12 month low of $85.04 and a 12 month high of $110.95. The stock has a market capitalization of $12.17 billion, a P/E ratio of 49.51 and a beta of 0.35. The company has a 50-day moving average of $103.19 and a 200 day moving average of $101.92.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The firm had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $382.17 million. During the same period in the previous year, the business earned $1.54 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities research analysts expect that Mid-America Apartment Communities will post $1.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 12th. This represents a $3.48 annualized dividend and a yield of 3.25%. Mid-America Apartment Communities’s payout ratio is presently 148.72%.
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Mid-America Apartment Communities Company Profile
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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