Mid-America Apartment Communities (NYSE:MAA) Upgraded by BNP Paribas Exane to Hold Rating

BNP Paribas Exane upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on MAA. Piper Sandler dropped their price target on Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group raised shares of Mid-America Apartment Communities to a “hold” rating in a report on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, Mizuho upped their price target on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and an average price target of $145.38.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock opened at $131.90 on Tuesday. Mid-America Apartment Communities has a twelve month low of $120.30 and a twelve month high of $146.41. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.02. The company has a 50-day simple moving average of $135.74 and a two-hundred day simple moving average of $131.64. The stock has a market capitalization of $15.30 billion, a price-to-earnings ratio of 38.57 and a beta of 0.73.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a $1.53 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.6%. Mid-America Apartment Communities’s dividend payout ratio is 178.95%.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, Director Tamara D. Fischer purchased 1,100 shares of Mid-America Apartment Communities stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the purchase, the director owned 1,100 shares in the company, valued at approximately $141,405. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Mid-America Apartment Communities by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,821 shares of the real estate investment trust’s stock valued at $2,149,000 after acquiring an additional 620 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Mid-America Apartment Communities by 47.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 927 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 299 shares in the last quarter. Baird Financial Group Inc. raised its position in Mid-America Apartment Communities by 7.1% in the second quarter. Baird Financial Group Inc. now owns 6,595 shares of the real estate investment trust’s stock valued at $976,000 after purchasing an additional 437 shares during the last quarter. Walleye Capital LLC bought a new position in Mid-America Apartment Communities in the second quarter valued at about $230,000. Finally, Bank of Nova Scotia raised its position in Mid-America Apartment Communities by 21.7% in the second quarter. Bank of Nova Scotia now owns 15,538 shares of the real estate investment trust’s stock valued at $2,300,000 after purchasing an additional 2,771 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.