Mid-America Apartment Communities' (MAA) "Neutral" Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Mid-America Apartment Communities (NYSE:MAA - Free Report) in a report published on Monday, Benzinga reports. Wedbush currently has a $135.00 price target on the real estate investment trust's stock.

MAA has been the topic of a number of other reports. The Goldman Sachs Group restated a buy rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Royal Bank of Canada reaffirmed a sector perform rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Morgan Stanley raised their price target on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an equal weight rating in a research note on Monday, February 26th. Scotiabank raised shares of Mid-America Apartment Communities from a sector underperform rating to a sector perform rating and raised their price target for the company from $133.00 to $147.00 in a research note on Tuesday, January 16th. Finally, Truist Financial decreased 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 research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $143.06.

Mid-America Apartment Communities Stock Performance

MAA traded up $1.90 during midday trading on Monday, hitting $131.13. 917,324 shares of the company were exchanged, compared to its average volume of 878,032. Mid-America Apartment Communities has a 1-year low of $115.56 and a 1-year high of $158.46. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80. The company's 50 day simple moving average is $129.06 and its 200 day simple moving average is $128.52.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The business had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same quarter last year, the business earned $2.32 earnings per share. Mid-America Apartment Communities's revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Mid-America Apartment Communities will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm's 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 2,807 shares of company stock worth $353,955 in the last 90 days. Insiders own 1.30% of the company's stock.

Institutional Trading of Mid-America Apartment Communities

Several institutional investors have recently added to or reduced their stakes in the stock. Greenleaf Trust increased its holdings in Mid-America Apartment Communities by 6.4% in the 1st quarter. Greenleaf Trust now owns 2,215 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 134 shares during the last quarter. Virginia Wealth Management Group Inc. increased its holdings in Mid-America Apartment Communities by 212.7% in the 1st quarter. Virginia Wealth Management Group Inc. now owns 23,865 shares of the real estate investment trust's stock valued at $3,140,000 after purchasing an additional 16,234 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Mid-America Apartment Communities by 63.8% in the 1st quarter. Lindbrook Capital LLC now owns 457 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 178 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Mid-America Apartment Communities by 9.2% in the 1st quarter. New York State Teachers Retirement System now owns 125,997 shares of the real estate investment trust's stock valued at $16,579,000 after purchasing an additional 10,641 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mid-America Apartment Communities by 1.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,287 shares of the real estate investment trust's stock valued at $10,564,000 after purchasing an additional 1,261 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

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.