Mid-America Apartment Communities Inc (MAA) Receives $101.89 Consensus Target Price from Analysts
Mid-America Apartment Communities Inc (NYSE:MAA) has been given an average recommendation of “Hold” by the fifteen research firms that are covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $101.89.
Several research firms have commented on MAA. SunTrust Banks reaffirmed a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, August 9th. Scotiabank began coverage on Mid-America Apartment Communities in a report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Robert W. Baird reissued a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, August 16th. Capital One Financial reissued an “equal weight” rating on shares of Mid-America Apartment Communities in a report on Friday, October 19th. Finally, Barclays reissued a “buy” rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a report on Sunday, October 14th.
Institutional investors and hedge funds have recently modified their holdings of the company. SRS Capital Advisors Inc. acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $120,000. Piedmont Investment Advisors LLC acquired a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $134,000. First Hawaiian Bank acquired a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $171,000. Bridgeworth LLC acquired a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $180,000. Finally, BB&T Securities LLC acquired a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $201,000. 92.73% of the stock is owned by institutional investors and hedge funds.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.46 EPS for the quarter, missing the consensus estimate of $1.50 by ($1.04). The firm had revenue of $397.10 million during the quarter, compared to analyst estimates of $393.76 million. Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. As a group, analysts expect that Mid-America Apartment Communities will post 6.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th will be issued a $0.96 dividend. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.80%. Mid-America Apartment Communities’s dividend payout ratio is presently 62.12%.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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