Mid-America Apartment Communities (NYSE:MAA) PT Raised to $156.00 at Truist Financial

Mid-America Apartment Communities (NYSE:MAA) had its price target upped by Truist Financial from $148.00 to $156.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

MAA has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an equal weight rating in a research report on Friday, May 31st. Janney Montgomery Scott upgraded Mid-America Apartment Communities from a neutral rating to a buy rating and set a $150.00 price objective for the company in a report on Thursday, June 13th. Morgan Stanley upped their price objective on 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. Scotiabank upped their price objective on Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a sector perform rating in a report on Tuesday, May 14th. Finally, UBS Group upped their price objective on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a sell rating in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of Hold and an average target price of $142.44.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $143.32 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $16.74 billion, a P/E ratio of 30.05, a P/E/G ratio of 3.12 and a beta of 0.84. The business’s fifty day moving average is $134.15 and its two-hundred day moving average is $131.83. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $158.46.

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

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a yield of 4.10%. Mid-America Apartment Communities’s payout ratio is 123.27%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 2,807 shares of company stock valued at $353,955 over the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MAA. Norges Bank acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter worth about $713,500,000. Massachusetts Financial Services Co. MA boosted its position in Mid-America Apartment Communities by 188.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after purchasing 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 valued at $262,943,000 after purchasing an additional 697,200 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Mid-America Apartment Communities by 96.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock valued at $164,085,000 after purchasing an additional 600,547 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position 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 purchasing an additional 522,851 shares during the last quarter. 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.