Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $141.97 Average Target Price from Brokerages

Mid-America Apartment Communities, Inc. (NYSE:MAA) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $141.97.

A number of analysts have commented on the stock. Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a report on Thursday, June 13th. Scotiabank lifted their target price on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. UBS Group lifted their target price on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a “sell” rating in a report on Tuesday, May 14th. Wedbush raised shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $135.00 to $154.00 in a report on Monday, May 6th. Finally, Mizuho lifted their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were 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 in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 2,807 shares of company stock worth $353,955. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MAA. Janney Montgomery Scott LLC lifted its stake in Mid-America Apartment Communities by 6.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,260 shares of the real estate investment trust’s stock valued at $1,063,000 after purchasing an additional 476 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of Mid-America Apartment Communities by 4.8% during the third quarter. Rafferty Asset Management LLC now owns 13,038 shares of the real estate investment trust’s stock worth $1,677,000 after buying an additional 599 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Mid-America Apartment Communities during the third quarter worth $1,819,000. Nordea Investment Management AB increased its position in shares of Mid-America Apartment Communities by 23.4% during the third quarter. Nordea Investment Management AB now owns 142,106 shares of the real estate investment trust’s stock worth $18,556,000 after buying an additional 26,931 shares during the period. Finally, Invesco Ltd. increased its position in shares of Mid-America Apartment Communities by 15.8% during the third quarter. Invesco Ltd. now owns 1,001,208 shares of the real estate investment trust’s stock worth $128,805,000 after buying an additional 136,686 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $140.96 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $16.47 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.14 and a beta of 0.84. The firm has a 50 day simple moving average of $133.81 and a 200 day simple moving average of $131.65. Mid-America Apartment Communities has a fifty-two week low of $115.56 and a fifty-two week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. Sell-side analysts predict that Mid-America Apartment Communities will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a yield of 4.17%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 123.27%.

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.