Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $164.00 by Analysts at Morgan Stanley

Mid-America Apartment Communities (NYSE:MAA) had its price target cut by Morgan Stanley from $169.00 to $164.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, October 8th. Truist Financial cut their price objective on shares of Mid-America Apartment Communities from $158.00 to $146.00 and set a “buy” rating on the stock in a report on Monday. Evercore ISI cut their price objective on shares of Mid-America Apartment Communities from $153.00 to $144.00 and set an “in-line” rating on the stock in a research report on Monday, November 3rd. Cantor Fitzgerald started coverage on Mid-America Apartment Communities in a report on Wednesday, October 1st. They set a “neutral” rating and a $150.00 target price on the stock. Finally, BNP Paribas Exane lowered shares of Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating in a report on Monday, September 29th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $156.22.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded up $0.37 during mid-day trading on Thursday, hitting $130.92. The stock had a trading volume of 649,075 shares, compared to its average volume of 906,668. The company’s 50-day simple moving average is $135.26 and its 200-day simple moving average is $145.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $15.33 billion, a PE ratio of 27.74, a PEG ratio of 3.38 and a beta of 0.78. Mid-America Apartment Communities has a fifty-two week low of $125.75 and a fifty-two week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.01). The firm had revenue of $554.37 million for the quarter, compared to analysts’ expectations of $557.22 million. Mid-America Apartment Communities had a return on equity of 9.10% and a net margin of 25.23%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 earnings per share. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. Sell-side analysts anticipate that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 4.6%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. The ex-dividend date was Wednesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 128.39%.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. acquired 578 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $129.36 per share, with a total value of $74,770.08. Following the completion of the acquisition, the chief executive officer owned 320,391 shares of the company’s stock, valued at approximately $41,445,779.76. This trade represents a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Mid-America Apartment Communities in the second quarter valued at $5,156,000. Allworth Financial LP grew its stake in Mid-America Apartment Communities by 33.1% during the second quarter. Allworth Financial LP now owns 30,112 shares of the real estate investment trust’s stock worth $4,457,000 after purchasing an additional 7,481 shares during the period. Nordea Investment Management AB increased its position in Mid-America Apartment Communities by 8.4% in the 2nd quarter. Nordea Investment Management AB now owns 10,161 shares of the real estate investment trust’s stock valued at $1,494,000 after buying an additional 790 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Mid-America Apartment Communities by 41.3% during the first quarter. Wealthfront Advisers LLC now owns 19,507 shares of the real estate investment trust’s stock worth $3,269,000 after acquiring an additional 5,702 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Mid-America Apartment Communities in the 1st quarter worth about $526,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.