Mid-America Apartment Communities, Inc. (NYSE:MAA) Given Average Rating of “Hold” by Brokerages

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) have been given an average rating of “Hold” by the fifteen brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $143.06.

Several research firms have recently issued reports on MAA. Deutsche Bank Aktiengesellschaft assumed coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Mizuho reduced their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their target price for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Finally, Truist Financial cut their price target on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds have recently added to or reduced their stakes in MAA. DAVENPORT & Co LLC lifted its position in shares of Mid-America Apartment Communities by 4.5% in the 3rd quarter. DAVENPORT & Co LLC now owns 3,537 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 153 shares during the period. Czech National Bank lifted its holdings in Mid-America Apartment Communities by 47.7% during the third quarter. Czech National Bank now owns 20,392 shares of the real estate investment trust’s stock worth $2,623,000 after buying an additional 6,582 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Mid-America Apartment Communities by 16.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 31,429 shares of the real estate investment trust’s stock valued at $4,043,000 after acquiring an additional 4,444 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at $3,219,000. Finally, Xponance Inc. lifted its stake in shares of Mid-America Apartment Communities by 6.0% during the 3rd quarter. Xponance Inc. now owns 15,919 shares of the real estate investment trust’s stock worth $2,048,000 after purchasing an additional 903 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $131.13 on Tuesday. Mid-America Apartment Communities has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.90 and a beta of 0.80. The firm’s fifty day moving average is $129.06 and its 200 day moving average is $128.52. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.93). The business had revenue of $542.25 million for the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.32 earnings per share. Sell-side analysts forecast that Mid-America Apartment Communities will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a yield of 4.48%. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

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.