Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $162.68 Consensus Price Target from Brokerages

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) have received a consensus rating of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $162.68.

Several research analysts recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research note on Monday, October 21st. BNP Paribas assumed coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. StockNews.com lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Scotiabank lowered their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $157.22 on Wednesday. The company has a 50-day moving average of $156.83 and a two-hundred day moving average of $151.57. The stock has a market cap of $18.38 billion, a P/E ratio of 35.49, a PEG ratio of 2.55 and a beta of 0.90. Mid-America Apartment Communities has a 12-month low of $121.51 and a 12-month high of $167.39. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. As a group, research analysts predict that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $1.515 dividend. The ex-dividend date is Wednesday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 3.85%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently modified their holdings of MAA. Synovus Financial Corp grew its holdings in Mid-America Apartment Communities by 5.8% during the 3rd quarter. Synovus Financial Corp now owns 29,763 shares of the real estate investment trust’s stock valued at $4,729,000 after purchasing an additional 1,629 shares in the last quarter. Tidal Investments LLC boosted its position in Mid-America Apartment Communities by 16.4% in the 3rd quarter. Tidal Investments LLC now owns 54,192 shares of the real estate investment trust’s stock valued at $8,611,000 after buying an additional 7,644 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Mid-America Apartment Communities during the third quarter valued at about $63,000. Sanctuary Advisors LLC increased its position in shares of Mid-America Apartment Communities by 23.6% during the third quarter. Sanctuary Advisors LLC now owns 11,151 shares of the real estate investment trust’s stock worth $1,795,000 after acquiring an additional 2,130 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Mid-America Apartment Communities in the third quarter worth about $1,162,000. Hedge funds and other 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.