Mid-America Apartment Communities (NYSE:MAA - Free Report) had its target price lowered by Scotiabank from $194.00 to $180.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the real estate investment trust's stock.
MAA has been the topic of a number of other reports. Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and upped their price target for the company from $148.00 to $190.00 in a report on Monday, March 10th. JMP Securities upped their price target on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday, May 22nd. Mizuho lowered their price target on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Raymond James downgraded Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $185.00 to $175.00 in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $169.76.
Read Our Latest Stock Report on MAA
Mid-America Apartment Communities Stock Down 1.2%
Shares of NYSE MAA traded down $1.83 during trading on Friday, reaching $149.62. The company had a trading volume of 862,796 shares, compared to its average volume of 768,445. Mid-America Apartment Communities has a 12-month low of $136.85 and a 12-month high of $173.38. The stock has a market cap of $17.51 billion, a PE ratio of 33.40, a P/E/G ratio of 3.72 and a beta of 0.78. The business's 50-day moving average is $157.09 and its 200 day moving average is $157.59. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The firm had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. During the same period in the prior year, the firm posted $2.22 earnings per share. The company's quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.
Mid-America Apartment Communities Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.
Insider Buying and Selling
In related news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now owns 319,813 shares of the company's stock, valued at $47,949,563.09. This represents a 0.82% 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 worth $1,171,707. 1.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Mid-America Apartment Communities
Several institutional investors have recently added to or reduced their stakes in MAA. Choreo LLC lifted its stake in shares of Mid-America Apartment Communities by 40.7% in the 4th quarter. Choreo LLC now owns 2,247 shares of the real estate investment trust's stock valued at $344,000 after purchasing an additional 650 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Mid-America Apartment Communities by 11.9% in the 4th quarter. Empowered Funds LLC now owns 2,936 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 312 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Mid-America Apartment Communities by 1.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 238,962 shares of the real estate investment trust's stock valued at $36,740,000 after purchasing an additional 3,101 shares during the last quarter. bLong Financial LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $878,000. Finally, Principal Securities Inc. lifted its stake in shares of Mid-America Apartment Communities by 31.4% in the 4th quarter. Principal Securities Inc. now owns 1,000 shares of the real estate investment trust's stock valued at $155,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.
About Mid-America Apartment Communities
(
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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.
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