Mid-America Apartment Communities (NYSE:MAA) Stock Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• MAA shares rose above their 50-day moving average, trading as high as $122.38 versus the average of $120.61; the stock was reported up 4.1%.
• Analyst sentiment is mixed but consensus remains Hold: eight analysts rate the stock Buy, eleven Hold and two Sell, with a consensus price target of $138.06. Goldman Sachs and UBS lowered their targets, while Weiss Ratings downgraded the shares to Sell.
• MAA reported quarterly EPS of $0.72, below the $2.10 consensus, while revenue of $560.13 million slightly beat estimates and grew 1% year over year. Its quarterly dividend was $1.53 per share, equivalent to a 5.0% yield at the reported share price.

Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $120.61 and traded as high as $122.38. Mid-America Apartment Communities shares last traded at $122.1470, with a volume of 1,303,504 shares traded.

Analyst Ratings Changes

Several research firms recently commented on MAA. The Goldman Sachs Group cut their price target on Mid-America Apartment Communities from $142.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 21st. Weiss Ratings downgraded shares of Mid-America Apartment Communities from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. UBS Group cut their price target on shares of Mid-America Apartment Communities from $129.00 to $123.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 14th. Mizuho reduced their price objective on Mid-America Apartment Communities from $152.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Mid-America Apartment Communities in a report on Thursday, July 16th. They set a "neutral" rating and a $147.00 price target for the company. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and a consensus price target of $138.06.

Mid-America Apartment Communities Trading Up 4.1%

The firm has a market cap of $14.17 billion, a PE ratio of 37.01 and a beta of 0.71. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.08. The business has a fifty day moving average price of $120.61 and a 200 day moving average price of $128.93.

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

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were given a dividend of $1.53 per share. This represents a $6.12 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Thursday, October 15th. Mid-America Apartment Communities's payout ratio is currently 185.45%.

Insider Activity

In related news, EVP Adrian Hill purchased 844 shares of the business's stock in a transaction that occurred on Friday, October 30th. The shares were purchased at an average cost of $118.35 per share, for a total transaction of $99,887.40. Following the purchase, the executive vice president directly owned 65,277 shares of the company's stock, valued at $7,725,532.95. The trade was a 1.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several large investors have recently bought and sold shares of MAA. Elevation Wealth Partners LLC lifted its stake in Mid-America Apartment Communities by 593.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 172 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at $30,000. Raiffeisen Bank International AG lifted its position in Mid-America Apartment Communities by 116.7% during the second quarter. Raiffeisen Bank International AG now owns 221 shares of the real estate investment trust's stock worth $31,000 after buying an additional 119 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Mid-America Apartment Communities in the third quarter worth approximately $34,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc NYSE: MAA is a real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.

MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.

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