Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives Consensus Rating of “Hold” from Analysts

Mid-America Apartment Communities, Inc. (NYSE:MAA) has earned a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $141.97.

A number of brokerages have issued reports on MAA. UBS Group raised their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a “sell” rating in a research note on Tuesday, May 14th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Thursday, June 13th. Wells Fargo & Company boosted their price target on Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Finally, Morgan Stanley upped their price target on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a report on Wednesday, May 15th.

Mid-America Apartment Communities Stock Up 1.4 %

MAA stock opened at $141.25 on Wednesday. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $158.46. The company has a market cap of $16.50 billion, a P/E ratio of 29.61, a P/E/G ratio of 3.10 and a beta of 0.84. The company’s 50-day moving average price is $133.23 and its 200 day moving average price is $131.42. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). The business had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 earnings per share. On average, research analysts expect that Mid-America Apartment Communities will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 annualized dividend and a dividend yield of 4.16%. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in Mid-America Apartment Communities during the 4th quarter worth about $713,500,000. Massachusetts Financial Services Co. MA lifted its position in shares of Mid-America Apartment Communities by 188.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock worth $195,179,000 after buying an additional 949,171 shares during the last quarter. Blackstone Inc. boosted its position in Mid-America Apartment Communities by 51.8% during the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after purchasing an additional 697,200 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Mid-America Apartment Communities by 96.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock worth $164,085,000 after buying an additional 600,547 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in Mid-America Apartment Communities by 103.1% during the fourth quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock valued at $138,499,000 after acquiring an additional 522,851 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

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.