Mid-America Apartment Communities (NYSE:MAA) Upgraded by Mizuho to Outperform Rating

Key Points

• Mizuho upgraded Mid-America Apartment Communities' rating from neutral to outperform, setting a new target price of $150.00, indicating a potential upside of 7.51% from its last close.
• Analyst consensus rating for MAA stands at "Hold" with an average price target of $163.74, reflecting mixed sentiments among different research firms.
• The company recently reported $2.15 EPS for the quarter, slightly beating estimates, with revenue growth of 0.6% year-over-year.

Mizuho upgraded shares of Mid-America Apartment Communities (NYSE:MAA - Free Report) from a neutral rating to an outperform rating in a research note released on Thursday, MarketBeat.com reports. The brokerage currently has $150.00 price objective on the real estate investment trust's stock, down from their prior price objective of $161.00.

A number of other equities analysts have also recently issued reports on MAA. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Morgan Stanley reduced their price objective on shares of Mid-America Apartment Communities from $177.00 to $169.00 and set an "overweight" rating on the stock in a research note on Wednesday. Royal Bank Of Canada reduced their price objective on shares of Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. UBS Group reduced their price objective on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a research note on Tuesday, July 15th. Finally, Piper Sandler reduced their price objective on shares of Mid-America Apartment Communities from $170.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $163.21.

Mid-America Apartment Communities Price Performance

Shares of MAA traded up $0.85 during mid-day trading on Thursday, hitting $140.88. 927,467 shares of the company traded hands, compared to its average volume of 899,827. Mid-America Apartment Communities has a one year low of $137.32 and a one year high of $173.38. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $147.69 and a 200 day moving average of $155.48. The stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 3.77 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The business had revenue of $549.90 million for the quarter, compared to analysts' expectations of $552.19 million. During the same period in the prior year, the firm earned $2.22 earnings per share. Mid-America Apartment Communities's revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a dividend of $1.515 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.3%. Mid-America Apartment Communities's dividend payout ratio is 124.69%.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several hedge funds have recently made changes to their positions in MAA. Elevation Point Wealth Partners LLC acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $26,000. Larson Financial Group LLC increased its stake in Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 91 shares during the last quarter. Financial Network Wealth Advisors LLC acquired a new stake in Mid-America Apartment Communities in the 1st quarter valued at $29,000. Finally, Sound Income Strategies LLC increased its stake in Mid-America Apartment Communities by 972.2% in the 2nd quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 175 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

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.