Raymond James Financial Downgrades Mid-America Apartment Communities (NYSE:MAA) to Market Perform

Raymond James Financial cut shares of Mid-America Apartment Communities (NYSE:MAA - Free Report) from an outperform rating to a market perform rating in a research report released on Tuesday, MarketBeat.com reports.

Other research analysts have also issued research reports about the stock. Truist Financial cut their price target on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Jefferies Financial Group raised shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and boosted their price objective for the company from $148.00 to $190.00 in a research report on Monday, March 10th. Barclays increased their target price on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Robert W. Baird upped their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of "Hold" and an average target price of $169.76.

Mid-America Apartment Communities Trading Down 0.1%

Shares of MAA traded down $0.14 during trading hours on Tuesday, reaching $147.32. The stock had a trading volume of 314,675 shares, compared to its average volume of 784,326. The company has a market cap of $17.25 billion, a P/E ratio of 30.67, a P/E/G ratio of 3.73 and a beta of 0.78. Mid-America Apartment Communities has a 52 week low of $137.51 and a 52 week high of $173.38. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average of $155.86 and a 200 day moving average of $156.77.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The company had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. During the same period in the prior year, the company earned $2.22 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.11%. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 126.25%.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 4,358 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the sale, the chief executive officer now directly owns 324,171 shares in the company, valued at approximately $53,890,187.04. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Amber Fairbanks sold 173 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president now owns 3,012 shares in the company, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,313 shares of company stock valued at $1,171,707. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Mid-America Apartment Communities

Large investors have recently modified their holdings of the stock. Capital World Investors lifted its holdings in shares of Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock worth $1,025,868,000 after acquiring an additional 2,088,143 shares during the period. Norges Bank bought a new stake in Mid-America Apartment Communities during the fourth quarter worth $826,562,000. JPMorgan Chase & Co. boosted its holdings in shares of Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock valued at $517,015,000 after purchasing an additional 708,125 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Mid-America Apartment Communities by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after buying an additional 52,050 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its stake in Mid-America Apartment Communities by 9.7% in the first quarter. APG Asset Management US Inc. now owns 3,069,507 shares of the real estate investment trust's stock valued at $514,081,000 after buying an additional 271,507 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

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.