Mid-America Apartment Communities, Inc. (MAA) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is mixed but leans toward Hold: 11 of 21 firms rate MAA Hold, eight Buy, and two Sell; the average 12-month price target is $137.59.
• Quarterly earnings missed expectations: MAA reported EPS of $0.72 versus a $2.10 consensus estimate, while revenue of $560.13 million slightly topped estimates and rose 1% year over year.
• The dividend offers a 5.1% yield: MAA pays $1.53 quarterly, or $6.12 annualized; EVP Adrian Hill also bought 844 shares for about $99,900.

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) have received a consensus recommendation of "Hold" from the twenty-one research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $137.59.

MAA has been the topic of a number of recent research reports. Scotiabank cut their price objective on Mid-America Apartment Communities from $134.00 to $125.00 and set a "sector underperform" rating on the stock in a research report on Thursday, September 17th. Wells Fargo & Company decreased their target price on Mid-America Apartment Communities from $146.00 to $131.00 and set an "overweight" rating for the company in a report on Monday, October 19th. JPMorgan Chase & Co. initiated coverage on Mid-America Apartment Communities in a research note on Thursday, July 16th. They set a "neutral" rating and a $147.00 target price for the company. BNP Paribas Exane upgraded Mid-America Apartment Communities from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Piper Sandler increased their price target on Mid-America Apartment Communities from $121.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, November 2nd.

Insider Activity

In other Mid-America Apartment Communities news, EVP Adrian Hill bought 844 shares of the company's stock in a transaction that occurred on Friday, October 30th. The shares were purchased at an average price of $118.35 per share, with a total value of $99,887.40. Following the completion of the acquisition, the executive vice president directly owned 65,277 shares of the company's stock, valued at $7,725,532.95. This represents a 1.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC grew its position in shares of Mid-America Apartment Communities by 102.2% in the 3rd quarter. Private Advisor Group LLC now owns 5,710 shares of the real estate investment trust's stock valued at $672,000 after buying an additional 2,886 shares during the last quarter. Focus Advisor Solutions LLC raised its stake in Mid-America Apartment Communities by 43.7% during the 3rd quarter. Focus Advisor Solutions LLC now owns 9,292 shares of the real estate investment trust's stock worth $1,094,000 after acquiring an additional 2,825 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Mid-America Apartment Communities in the third quarter valued at $821,000. Voya Investment Management LLC lifted its position in Mid-America Apartment Communities by 0.9% in the third quarter. Voya Investment Management LLC now owns 23,097 shares of the real estate investment trust's stock valued at $2,719,000 after acquiring an additional 217 shares during the last quarter. Finally, Cibc World Market Inc. boosted its stake in Mid-America Apartment Communities by 4.4% in the third quarter. Cibc World Market Inc. now owns 34,641 shares of the real estate investment trust's stock valued at $4,079,000 after acquiring an additional 1,465 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Down 0.5%

NYSE MAA opened at $118.84 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $13.78 billion, a P/E ratio of 36.01 and a beta of 0.71. The firm's 50-day moving average is $119.81 and its two-hundred day moving average is $128.62. Mid-America Apartment Communities has a 12 month low of $113.95 and a 12 month high of $144.41.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The company had revenue of $560.13 million during the quarter, compared to analyst estimates of $558.07 million. During the same quarter in the prior year, the company posted $2.16 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities will post 8.50 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were given a $1.53 dividend. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 5.1%. Mid-America Apartment Communities's dividend payout ratio is currently 185.45%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities. The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas. Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H. Eric Bolton Jr. since 2001.

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