Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $169.76 Consensus PT from Analysts

Mid-America Apartment Communities, Inc. (NYSE:MAA) has been given a consensus rating of “Hold” by the twenty-one brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $169.76.

A number of brokerages recently issued reports on MAA. Raymond James Financial lowered shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 24th. Scotiabank dropped their price objective on shares of Mid-America Apartment Communities from $194.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, June 13th. Truist Financial dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. JMP Securities upped their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, June 27th.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $150.47 on Friday. Mid-America Apartment Communities has a 52-week low of $137.51 and a 52-week high of $173.38. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 3.85 and a beta of 0.75. The company has a fifty day simple moving average of $154.78 and a 200-day simple moving average of $156.45. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The business had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. During the same quarter in the prior year, the firm earned $2.22 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.03%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 126.25%.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer owned 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amber Fairbanks sold 173 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the sale, the executive vice president directly owned 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,861 shares of company stock worth $431,607. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Mid-America Apartment Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its holdings in shares of Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 68 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $10,035,000. QRG Capital Management Inc. increased its holdings in shares of Mid-America Apartment Communities by 53.6% in the 4th quarter. QRG Capital Management Inc. now owns 50,542 shares of the real estate investment trust’s stock valued at $7,812,000 after acquiring an additional 17,643 shares during the period. Metis Global Partners LLC increased its holdings in shares of Mid-America Apartment Communities by 9.5% in the 4th quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock valued at $2,670,000 after acquiring an additional 1,499 shares during the period. Finally, Aew Capital Management L P increased its holdings in shares of Mid-America Apartment Communities by 516.3% in the 4th quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust’s stock valued at $97,533,000 after acquiring an additional 528,608 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.