Mid-America Apartment Communities (NYSE:MAA) had its target price hoisted by Citigroup from $120.00 to $135.00 in a research report sent to investors on Thursday morning, Stock Target Advisor reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
A number of other research analysts have also recently commented on MAA. Capital One Financial raised shares of Mid-America Apartment Communities from an equal weight rating to an overweight rating in a report on Monday, November 4th. Mizuho increased their target price on shares of Mid-America Apartment Communities from $132.00 to $145.00 and gave the stock a buy rating in a report on Thursday, October 31st. Barclays set a $141.00 target price on shares of Mid-America Apartment Communities and gave the stock a buy rating in a report on Friday, October 11th. Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a report on Friday. They issued a neutral rating and a $149.00 target price for the company. Finally, ValuEngine cut shares of Mid-America Apartment Communities from a buy rating to a hold rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $126.75.
Shares of MAA stock traded down $1.27 on Thursday, reaching $133.99. The company had a trading volume of 461,365 shares, compared to its average volume of 522,704. The stock has a market capitalization of $15.47 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 5.38 and a beta of 0.33. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities has a one year low of $91.21 and a one year high of $140.15. The business’s 50-day moving average is $133.48 and its 200 day moving average is $122.59.
Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.87). The company had revenue of $415.63 million during the quarter, compared to the consensus estimate of $411.16 million. Mid-America Apartment Communities had a return on equity of 3.84% and a net margin of 16.25%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.50 EPS. On average, sell-side analysts forecast that Mid-America Apartment Communities will post 6.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Friday, October 11th. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.
In other news, Director David P. Stockert sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total value of $682,300.00. Following the completion of the transaction, the director now owns 68,778 shares of the company’s stock, valued at $9,385,445.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. First Financial Corp IN acquired a new stake in Mid-America Apartment Communities during the 3rd quarter valued at approximately $27,000. Johnson Financial Group Inc. acquired a new stake in Mid-America Apartment Communities during the 2nd quarter valued at approximately $29,000. JJJ Advisors Inc. acquired a new stake in Mid-America Apartment Communities during the 2nd quarter valued at approximately $31,000. Parallel Advisors LLC increased its position in Mid-America Apartment Communities by 38.2% during the 3rd quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 73 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in Mid-America Apartment Communities by 193.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 201 shares during the period. 93.19% of the stock is owned by institutional investors and hedge funds.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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