Mid-America Apartment Communities’ (MAA) “Buy” Rating Reiterated at Cantor Fitzgerald
Cantor Fitzgerald reiterated their buy rating on shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in a report released on Monday. The brokerage currently has a $110.00 target price on the real estate investment trust’s stock.
“Markets with improving fundamentals in 2018 could include Austin, Charleston, Charlotte, Houston, Nashville, Raleigh, Tampa and Washington, D.C.; markets that could have moderating fundamentals include Atlanta, Dallas-Ft. Worth, Jacksonville, Orlando and Phoenix (based on jobs/ completions).”,” Cantor Fitzgerald’s analyst wrote.
MAA has been the subject of several other reports. Royal Bank Of Canada restated a buy rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. Stifel Nicolaus dropped their target price on Mid-America Apartment Communities from $113.00 to $100.00 and set a hold rating for the company in a report on Friday, October 27th. ValuEngine cut Mid-America Apartment Communities from a buy rating to a hold rating in a report on Thursday, September 28th. Mizuho restated a hold rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a report on Monday, November 6th. Finally, JMP Securities cut Mid-America Apartment Communities from an outperform rating to a market perform rating in a 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 assigned a strong buy rating to the company. Mid-America Apartment Communities presently has a consensus rating of Buy and an average price target of $110.33.
Mid-America Apartment Communities (NYSE:MAA) opened at $103.14 on Monday. Mid-America Apartment Communities has a 52 week low of $87.59 and a 52 week high of $110.95. The company has a market capitalization of $11,810.39, a price-to-earnings ratio of 17.50, a P/E/G ratio of 2.51 and a beta of 0.35.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.61. The firm had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The firm’s revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 EPS. research analysts anticipate that Mid-America Apartment Communities will post 5.91 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, October 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 156.76%.
In related news, Director David P. Stockert sold 6,872 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total transaction of $730,768.48. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Reid Sanders bought 7,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average price of $100.11 per share, with a total value of $700,770.00. Following the completion of the acquisition, the director now directly owns 8,209 shares in the company, valued at $821,802.99. The disclosure for this purchase can be found here. Company insiders own 1.25% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MAA. KCG Holdings Inc. boosted its holdings in Mid-America Apartment Communities by 2.3% during the 1st quarter. KCG Holdings Inc. now owns 3,215 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 72 shares during the period. Bank of Montreal Can raised its position in Mid-America Apartment Communities by 46.1% in the 2nd quarter. Bank of Montreal Can now owns 111,483 shares of the real estate investment trust’s stock valued at $11,748,000 after purchasing an additional 35,202 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Mid-America Apartment Communities by 4.2% in the 2nd quarter. Gateway Investment Advisers LLC now owns 8,288 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 335 shares in the last quarter. National Pension Service raised its position in Mid-America Apartment Communities by 9.8% in the 2nd quarter. National Pension Service now owns 121,860 shares of the real estate investment trust’s stock valued at $12,868,000 after purchasing an additional 10,831 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Mid-America Apartment Communities by 508.8% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 18,434 shares of the real estate investment trust’s stock valued at $1,943,000 after purchasing an additional 15,406 shares in the last quarter. Institutional investors own 92.34% 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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