Mid-America Apartment Communities, Inc. (MAA) Given “Buy” Rating at Robert W. Baird
Robert W. Baird reissued their buy rating on shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in a report published on Friday. The brokerage currently has a $110.00 price objective on the real estate investment trust’s stock.
Several other research analysts have also issued reports on the company. Mizuho reissued a hold rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a research report on Monday, November 6th. Royal Bank Of Canada reissued a buy rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, November 3rd. SunTrust Banks, Inc. reissued a buy rating and issued a $109.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, November 3rd. Stifel Nicolaus decreased their target price on Mid-America Apartment Communities from $113.00 to $100.00 and set a hold rating for the company in a research report on Friday, October 27th. Finally, JMP Securities lowered Mid-America Apartment Communities from an outperform rating to a market perform rating in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $110.08.
Shares of Mid-America Apartment Communities (NYSE MAA) traded down $0.14 during trading hours on Friday, hitting $105.47. The stock had a trading volume of 377,500 shares, compared to its average volume of 690,960. Mid-America Apartment Communities has a 12-month low of $87.59 and a 12-month high of $110.95. The company has a market cap of $11,984.24, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.55 and a beta of 0.35.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The firm had revenue of $384.60 million during the quarter, compared to analyst estimates of $386.96 million. During the same quarter in the prior year, the company earned $1.47 EPS. The business’s revenue was up 38.9% compared to the same quarter last year. research analysts predict that Mid-America Apartment Communities will post 5.91 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, October 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 156.76%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 6,872 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total transaction of $730,768.48. Following the sale, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Reid Sanders bought 7,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were acquired at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the purchase, the director now owns 8,209 shares in the company, valued at approximately $821,802.99. The disclosure for this purchase can be found here. 1.25% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. boosted its stake in Mid-America Apartment Communities by 32.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 382 shares during the last quarter. Timber Hill LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $218,000. Commerce Bank purchased a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $223,000. Parametrica Management Ltd purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $236,000. Finally, BB&T Securities LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $237,000. Institutional investors and hedge funds own 91.27% of the company’s stock.
Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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