Morgan Stanley Cuts Mid-America Apartment Communities (NYSE:MAA) Price Target to $147.00

Mid-America Apartment Communities (NYSE:MAA) had its price target lowered by Morgan Stanley from $155.00 to $147.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the stock. BNP Paribas Exane upgraded shares of Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of Mid-America Apartment Communities from $140.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group raised shares of Mid-America Apartment Communities to a “hold” rating in a research note on Wednesday, July 22nd. Barclays upped their price objective on Mid-America Apartment Communities from $139.00 to $147.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. began coverage on shares of Mid-America Apartment Communities in a research note on Thursday, July 16th. They set a “neutral” rating and a $147.00 price target for the company. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $144.88.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $133.47 on Wednesday. Mid-America Apartment Communities has a 1-year low of $120.30 and a 1-year high of $146.41. The stock has a market cap of $15.49 billion, a P/E ratio of 39.03 and a beta of 0.73. The stock has a 50 day simple moving average of $135.59 and a 200 day simple moving average of $131.63. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were paid a dividend of $1.53 per share. This represents a $6.12 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Wednesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is 178.95%.

Insider Transactions at Mid-America Apartment Communities

In other news, Director Tamara D. Fischer acquired 1,100 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was purchased at an average price of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the acquisition, the director directly owned 1,100 shares in the company, valued at $141,405. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Physician Wealth Advisors Inc. boosted its stake in shares of Mid-America Apartment Communities by 65.2% in the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in Mid-America Apartment Communities by 593.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 172 shares during the last quarter. Nalls Sherbakoff Group LLC bought a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $32,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $33,000. Finally, Root Financial Partners LLC lifted its stake in shares of Mid-America Apartment Communities by 3,100.0% during the 1st quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 279 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.