Mid-America Apartment Communities (MAA) Earns “Buy” Rating from SunTrust Banks
SunTrust Banks reiterated their buy rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a research report released on Thursday. SunTrust Banks currently has a $105.00 price objective on the real estate investment trust’s stock.
Several other equities analysts have also commented on MAA. Stifel Nicolaus lowered shares of Mid-America Apartment Communities from a buy rating to a hold rating and set a $100.00 price objective for the company. in a research report on Thursday, August 2nd. ValuEngine upgraded shares of Mid-America Apartment Communities from a sell rating to a hold rating in a research report on Wednesday, June 27th. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a sell rating to a hold rating in a research report on Monday, May 7th. BTIG Research lowered shares of Mid-America Apartment Communities from a buy rating to a neutral rating in a research report on Thursday, May 31st. Finally, Barclays reissued a buy rating and issued a $112.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, April 17th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $104.09.
Mid-America Apartment Communities traded down $1.36, hitting $99.85, during trading on Thursday, Marketbeat reports. 289,344 shares of the company’s stock traded hands, compared to its average volume of 433,416. Mid-America Apartment Communities has a 52 week low of $85.16 and a 52 week high of $110.24. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $11.52 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.35.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, July 13th were paid a $0.9225 dividend. This represents a $3.69 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, July 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 62.12%.
In other news, Director David P. Stockert sold 1,617 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $101.59, for a total value of $164,271.03. Following the sale, the director now owns 75,563 shares of the company’s stock, valued at $7,676,445.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider H Eric Bolton, Jr. bought 1,130 shares of Mid-America Apartment Communities stock in a transaction dated Friday, May 18th. The stock was purchased at an average cost of $88.39 per share, for a total transaction of $99,880.70. Following the purchase, the insider now owns 220,643 shares of the company’s stock, valued at approximately $19,502,634.77. The disclosure for this purchase can be found here. Corporate insiders own 1.26% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in Mid-America Apartment Communities in the 2nd quarter worth about $134,000. Synovus Financial Corp purchased a new position in Mid-America Apartment Communities in the 1st quarter worth about $129,000. Assetmark Inc. increased its stake in Mid-America Apartment Communities by 497.4% in the 1st quarter. Assetmark Inc. now owns 1,607 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 1,338 shares during the period. McKinley Carter Wealth Services Inc. purchased a new position in Mid-America Apartment Communities in the 1st quarter worth about $177,000. Finally, Signaturefd LLC purchased a new position in Mid-America Apartment Communities in the 1st quarter worth about $182,000. 91.80% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities Company Profile
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 throughout the United States. As of March 31, 2018, MAA had ownership interest in 100,490 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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