Mid-America Apartment Communities, Inc. (MAA) Receives Average Rating of “Buy” from Brokerages
Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) have earned an average rating of “Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $109.64.
MAA has been the subject of several analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $115.00 target price on shares of Mid-America Apartment Communities in a report on Monday, July 10th. BidaskClub upgraded shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. BTIG Research upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a report on Friday, September 8th. Zacks Investment Research lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, ValuEngine upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Friday, September 8th.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 6,872 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the transaction, the director now owns 77,180 shares of the company’s stock, valued at approximately $8,207,321.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MAA. Bronfman E.L. Rothschild L.P. increased its position in Mid-America Apartment Communities by 32.9% during the 2nd 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 purchasing an additional 382 shares during the period. Commerce Bank purchased a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $223,000. BB&T Securities LLC purchased a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $237,000. MAI Capital Management purchased a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $247,000. Finally, RFG Advisory Group LLC purchased a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $282,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities (NYSE MAA) traded up 0.65% during trading on Wednesday, hitting $107.88. 422,455 shares of the company’s stock were exchanged. Mid-America Apartment Communities has a 52-week low of $85.04 and a 52-week high of $110.95. The firm has a 50 day moving average price of $107.01 and a 200 day moving average price of $103.85. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 49.88 and a beta of 0.37.
Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The firm had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The business’s revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the business earned $1.54 EPS. On average, equities research analysts predict that Mid-America Apartment Communities will post $1.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be issued a dividend of $0.87 per share. The ex-dividend date is Thursday, October 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.23%. Mid-America Apartment Communities’s payout ratio is 148.72%.
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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