Mid-America Apartment Communities (NYSE:MAA) Sets New 52-Week High – Still a Buy?

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) hit a new 52-week high during trading on Thursday . The stock traded as high as $167.54 and last traded at $167.19, with a volume of 143981 shares trading hands. The stock had previously closed at $164.22.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MAA shares. StockNews.com upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Evercore ISI raised their price objective on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. BMO Capital Markets decreased their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 21st. Barclays raised their price objective on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.00.

Mid-America Apartment Communities Stock Up 0.8 %

The firm has a market capitalization of $19.67 billion, a PE ratio of 37.56, a PEG ratio of 3.72 and a beta of 0.91. The business’s 50 day simple moving average is $154.16 and its 200 day simple moving average is $156.53. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Wednesday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 135.27%.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at about $14,217,000. Azzad Asset Management Inc. ADV grew its position in shares of Mid-America Apartment Communities by 2.9% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 14,666 shares of the real estate investment trust’s stock worth $2,267,000 after buying an additional 418 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Mid-America Apartment Communities by 32.4% in the 4th quarter. Toronto Dominion Bank now owns 76,404 shares of the real estate investment trust’s stock worth $11,810,000 after buying an additional 18,702 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $328,000. Finally, Cornerstone Advisory LLC purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $259,000. Institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.