Raymond James Upgrades Mid-America Apartment Communities (NYSE:MAA) to “Strong-Buy”

Raymond James upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a market perform rating to a strong-buy rating in a research note issued to investors on Monday morning, MarketBeat reports. Raymond James currently has $175.00 price objective on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group started coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target on the stock. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Piper Sandler lifted their price target on shares of 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. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, JMP Securities lifted their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Moderate Buy” and an average price target of $160.75.

Mid-America Apartment Communities Trading Down 0.2 %

Shares of MAA stock opened at $156.05 on Monday. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.47 and a beta of 0.88. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. Mid-America Apartment Communities has a fifty-two week low of $115.56 and a fifty-two week high of $167.39. The firm’s 50 day moving average price is $158.33 and its two-hundred day moving average price is $145.08.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.77%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

Institutional Trading of Mid-America Apartment Communities

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Mid-America Apartment Communities by 323.8% in the fourth quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after buying an additional 30,855 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Mid-America Apartment Communities by 172.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 16,154 shares of the real estate investment trust’s stock worth $2,126,000 after buying an additional 10,227 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Mid-America Apartment Communities by 531.5% in the first quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the real estate investment trust’s stock worth $5,831,000 after buying an additional 37,299 shares during the last quarter. QRG Capital Management Inc. increased its stake in Mid-America Apartment Communities by 12.8% during the second quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after purchasing an additional 3,451 shares during the last quarter. Finally, Swedbank AB bought a new stake in Mid-America Apartment Communities during the first quarter valued at $26,107,000. Institutional investors own 93.60% of the company’s stock.

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.