Mid-America Apartment Communities (NYSE:MAA) Hits New 1-Year High at $201.63

Mid-America Apartment Communities, Inc. (NYSE:MAA)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $201.63 and last traded at $201.63, with a volume of 246 shares. The stock had previously closed at $199.60.

Several equities analysts have recently commented on the stock. Truist Securities upped their price target on shares of Mid-America Apartment Communities from $178.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, August 25th. BTIG Research upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $218.00 price target for the company in a research report on Monday, September 13th. Royal Bank of Canada upped their price target on shares of Mid-America Apartment Communities from $180.00 to $196.00 and gave the stock a “sector perform” rating in a research report on Friday, July 30th. Mizuho upped their price target on shares of Mid-America Apartment Communities from $175.00 to $207.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 29th. Finally, Truist upped their price target on shares of Mid-America Apartment Communities from $178.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, August 25th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Buy” and a consensus target price of $179.36.

The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $190.75 and its two-hundred day moving average price is $175.49. The company has a market cap of $23.19 billion, a P/E ratio of 57.34, a price-to-earnings-growth ratio of 13.89 and a beta of 0.67.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Tuesday, July 27th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.64 by ($0.94). Mid-America Apartment Communities had a net margin of 23.81% and a return on equity of 6.66%. Equities analysts forecast that Mid-America Apartment Communities, Inc. will post 6.82 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Friday, October 15th will be given a dividend of $1.025 per share. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $4.10 annualized dividend and a dividend yield of 2.03%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 63.76%.

In other news, Director David P. Stockert sold 3,500 shares of the stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $195.00, for a total value of $682,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Albert M. Campbell III sold 10,000 shares of the stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $188.32, for a total transaction of $1,883,200.00. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems acquired a new position in Mid-America Apartment Communities in the second quarter worth approximately $1,123,000. Parallel Advisors LLC increased its holdings in Mid-America Apartment Communities by 30.1% in the second quarter. Parallel Advisors LLC now owns 298 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 69 shares during the last quarter. Marco Investment Management LLC acquired a new position in Mid-America Apartment Communities in the second quarter worth approximately $221,000. TriaGen Wealth Management LLC acquired a new position in Mid-America Apartment Communities in the second quarter worth approximately $207,000. Finally, JLP Asset Management LLC increased its holdings in Mid-America Apartment Communities by 3.2% in the second quarter. JLP Asset Management LLC now owns 60,600 shares of the real estate investment trust’s stock worth $10,206,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.

About Mid-America Apartment Communities (NYSE:MAA)

Mid-America Apartment Communities, Inc is a real estate investment trust. The firm engages in the operation, acquisition and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.

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