Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $162.68 Average PT from Brokerages

Mid-America Apartment Communities, Inc. (NYSE:MAA) has been assigned a consensus rating of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $162.68.

Several brokerages have recently weighed in on MAA. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research report on Monday, October 21st. Royal Bank of Canada decreased their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Piper Sandler upped their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th.

Institutional Investors Weigh In On Mid-America Apartment Communities

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prosperity Consulting Group LLC purchased a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $2,572,000. Swedbank AB increased its holdings in Mid-America Apartment Communities by 2.6% in the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock valued at $32,350,000 after buying an additional 5,178 shares in the last quarter. Portside Wealth Group LLC acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at approximately $808,000. Eagle Asset Management Inc. purchased a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $4,304,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Mid-America Apartment Communities by 2.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock worth $28,711,000 after acquiring an additional 4,301 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $157.22 on Wednesday. Mid-America Apartment Communities has a 12 month low of $121.51 and a 12 month high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $18.38 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. The business’s fifty day moving average price is $156.83 and its 200 day moving average price is $151.57.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. On average, sell-side analysts anticipate that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is currently 132.73%.

Mid-America Apartment Communities Company Profile

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.