Mid-America Apartment Communities (NYSE:MAA) had its price objective upped by Citigroup from $120.00 to $135.00 in a research report released on Thursday, Stock Target Advisor reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.
Other research analysts have also issued research reports about the stock. Capital One Financial raised shares of Mid-America Apartment Communities from an equal weight rating to an overweight rating in a research note on Monday, November 4th. Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research note on Friday. They issued a neutral rating and a $149.00 price target on the stock. ValuEngine lowered shares of Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Barclays set a $141.00 price target on shares of Mid-America Apartment Communities and gave the company a buy rating in a research note on Friday, October 11th. Finally, Mizuho lifted their price target on shares of Mid-America Apartment Communities from $132.00 to $145.00 and gave the company a buy rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $126.75.
Mid-America Apartment Communities stock traded down $1.27 during midday trading on Thursday, hitting $133.99. 461,365 shares of the stock were exchanged, compared to its average volume of 522,704. The company has a fifty day simple moving average of $133.48 and a two-hundred day simple moving average of $122.59. Mid-America Apartment Communities has a 52 week low of $91.21 and a 52 week high of $140.15. The stock has a market capitalization of $15.47 billion, a PE ratio of 22.18, a P/E/G ratio of 5.38 and a beta of 0.33. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.72.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a return on equity of 3.84% and a net margin of 16.25%. The firm had revenue of $415.63 million for the quarter, compared to the consensus estimate of $411.16 million. During the same period in the previous year, the business earned $1.50 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Mid-America Apartment Communities will post 6.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.87%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.58%.
In other news, Director David P. Stockert sold 5,000 shares of Mid-America Apartment Communities stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $136.46, for a total value of $682,300.00. Following the sale, the director now directly owns 68,778 shares in the company, valued at $9,385,445.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Financial Corp IN acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $27,000. Johnson Financial Group Inc. acquired a new position in Mid-America Apartment Communities during the second quarter worth $29,000. JJJ Advisors Inc. acquired a new position in Mid-America Apartment Communities during the second quarter worth $31,000. Parallel Advisors LLC increased its holdings in Mid-America Apartment Communities by 38.2% during the third quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 73 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Mid-America Apartment Communities by 193.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 305 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 201 shares during the last quarter. Institutional investors own 93.19% of the company’s stock.
Mid-America Apartment Communities Company Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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