Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives Consensus Rating of “Hold” from Brokerages

Mid-America Apartment Communities, Inc. (NYSE:MAA) has been assigned an average recommendation of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $162.68.

Several research firms have recently commented on MAA. Truist Financial upped their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target on the stock. Royal Bank of Canada cut their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price on the stock. Finally, Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $138.00 to $174.00 in a report on Monday, August 26th.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors have recently bought and sold shares of the stock. Synovus Financial Corp lifted its stake in Mid-America Apartment Communities by 5.8% in the 3rd quarter. Synovus Financial Corp now owns 29,763 shares of the real estate investment trust’s stock worth $4,729,000 after purchasing an additional 1,629 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Mid-America Apartment Communities by 16.4% in the third quarter. Tidal Investments LLC now owns 54,192 shares of the real estate investment trust’s stock worth $8,611,000 after purchasing an additional 7,644 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth about $63,000. Sanctuary Advisors LLC boosted its stake in Mid-America Apartment Communities by 23.6% during the third quarter. Sanctuary Advisors LLC now owns 11,151 shares of the real estate investment trust’s stock valued at $1,795,000 after buying an additional 2,130 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Mid-America Apartment Communities during the 3rd quarter valued at approximately $1,162,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Trading Down 0.3 %

Shares of MAA stock opened at $158.64 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities has a 12-month low of $121.51 and a 12-month high of $167.39. The stock has a market capitalization of $18.54 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.56 and a beta of 0.90. The firm’s 50 day moving average is $156.69 and its 200 day moving average is $151.30.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. Research analysts expect that Mid-America Apartment Communities will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 3.82%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is 132.73%.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.