Zacks Investment Research upgraded shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Mid America Apartment Communities Inc. is a real estate investment trust which ownes and operates apartments. The company also manages but does not own properties containing apartment units. The company seeks to acquire and develop apartment communities appealing to middle and upper income residents. “

Several other brokerages have also recently commented on MAA. RBC Capital Markets upgraded Mid-America Apartment Communities from a sector perform rating to an outperform rating and reduced their target price for the company from $106.00 to $103.00 in a report on Tuesday, December 13th. Royal Bank Of Canada upgraded Mid-America Apartment Communities from a sector perform rating to an outperform rating and reduced their target price for the company from $106.00 to $103.00 in a report on Tuesday, December 13th. BMO Capital Markets upgraded Mid-America Apartment Communities from a market perform rating to an outperform rating and set a $104.00 target price on the stock in a report on Wednesday, November 30th. They noted that the move was a valuation call. JMP Securities upgraded Mid-America Apartment Communities from a market perform rating to an outperform rating and set a $105.00 target price on the stock in a report on Thursday, October 20th. They noted that the move was a valuation call. Finally, Jefferies Group LLC upgraded Mid-America Apartment Communities from a hold rating to a buy rating and upped their target price for the company from $109.00 to $113.00 in a report on Thursday, October 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Mid-America Apartment Communities currently has a consensus rating of Buy and an average target price of $106.07.

Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

Shares of Mid-America Apartment Communities (NYSE:MAA) opened at 99.47 on Tuesday. The stock has a 50 day moving average of $96.96 and a 200-day moving average of $94.58. The firm has a market capitalization of $11.29 billion, a P/E ratio of 36.98 and a beta of 0.29. Mid-America Apartment Communities has a 12-month low of $85.04 and a 12-month high of $110.01.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, February 1st. The real estate investment trust reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. Mid-America Apartment Communities had a return on equity of 6.14% and a net margin of 18.83%. The business had revenue of $307.20 million for the quarter, compared to analysts’ expectations of $302.58 million. During the same period in the prior year, the business posted $1.45 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Mid-America Apartment Communities will post $2.07 EPS for the current fiscal year.

This report was first reported by Watch List News and is owned by of Watch List News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this report can be read at http://www.watchlistnews.com/mid-america-apartment-communities-inc-maa-lifted-to-hold-at-zacks-investment-research/1121826.html.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.50%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Wednesday, January 11th. Mid-America Apartment Communities’s dividend payout ratio is presently 128.41%.

Several institutional investors have recently bought and sold shares of MAA. Catalyst Capital Advisors LLC acquired a new position in Mid-America Apartment Communities during the third quarter worth about $153,000. Independent Advisor Alliance acquired a new position in Mid-America Apartment Communities during the fourth quarter worth about $162,000. Kemper Corp Master Retirement Trust acquired a new position in Mid-America Apartment Communities during the third quarter worth about $172,000. First New York Securities LLC NY acquired a new position in Mid-America Apartment Communities during the third quarter worth about $214,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Mid-America Apartment Communities during the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 97.98% of the company’s stock.

Mid-America Apartment Communities Company Profile

5 Day Chart for NYSE:MAA

Get a free copy of the Zacks research report on Mid-America Apartment Communities (MAA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mid-America Apartment Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.