Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $161.64 Consensus Price Target from Analysts

Mid-America Apartment Communities, Inc. (NYSE:MAA) has earned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $161.64.

Several analysts have recently issued reports on MAA shares. Wedbush upped their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. BNP Paribas started coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Mid-America Apartment Communities by 0.9% during the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock valued at $1,228,569,000 after buying an additional 65,696 shares during the period. Geode Capital Management LLC increased its position in Mid-America Apartment Communities by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock valued at $497,624,000 after purchasing an additional 48,168 shares during the period. Massachusetts Financial Services Co. MA increased its position in Mid-America Apartment Communities by 17.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after purchasing an additional 393,067 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Mid-America Apartment Communities by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock valued at $244,803,000 after purchasing an additional 97,672 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Mid-America Apartment Communities by 2.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after purchasing an additional 44,621 shares during the period. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $160.94 on Friday. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.55 and a beta of 0.88. Mid-America Apartment Communities has a 1 year low of $121.38 and a 1 year high of $167.39. The stock’s 50 day simple moving average is $156.87 and its two-hundred day simple moving average is $148.77. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

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

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.65%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

Mid-America Apartment Communities Company Profile

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.