Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $128.00

Mid-America Apartment Communities (NYSE:MAA) had its price target hoisted by UBS Group from $123.00 to $128.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

MAA has been the topic of a number of other reports. Truist Financial decreased their price objective on shares of Mid-America Apartment Communities from $146.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, September 17th. Weiss Ratings cut Mid-America Apartment Communities from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, November 3rd. Citigroup reaffirmed a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Friday, October 30th. Mizuho reduced their target price on Mid-America Apartment Communities from $152.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, September 8th. Finally, Wall Street Zen lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Sunday, October 25th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $136.82.

Mid-America Apartment Communities Stock Down 1.5%

MAA stock opened at $116.44 on Tuesday. The company has a market cap of $13.51 billion, a PE ratio of 35.28 and a beta of 0.71. The business has a 50-day simple moving average of $119.34 and a 200 day simple moving average of $128.44. Mid-America Apartment Communities has a 52 week low of $113.95 and a 52 week high of $144.41. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.08.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The firm had revenue of $560.13 million for the quarter, compared to analyst estimates of $558.07 million. During the same quarter in the previous year, the company earned $2.16 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Mid-America Apartment Communities will post 8.50 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were paid a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Thursday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 185.45%.

Insider Activity

In related news, EVP Adrian Hill purchased 844 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were bought at an average cost of $118.35 per share, with a total value of $99,887.40. Following the acquisition, the executive vice president owned 65,277 shares of the company’s stock, valued at $7,725,532.95. This trade represents a 1.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Mid-America Apartment Communities during the second quarter worth $1,820,661,000. Dimensional Fund Advisors LP boosted its stake in shares of Mid-America Apartment Communities by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,772,445 shares of the real estate investment trust’s stock valued at $216,450,000 after purchasing an additional 63,519 shares in the last quarter. Aberdeen Group plc grew its holdings in shares of Mid-America Apartment Communities by 340.9% during the third quarter. Aberdeen Group plc now owns 1,740,919 shares of the real estate investment trust’s stock worth $204,976,000 after purchasing an additional 1,346,062 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Mid-America Apartment Communities during the second quarter worth about $175,377,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Mid-America Apartment Communities by 15,892.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,221,025 shares of the real estate investment trust’s stock worth $169,649,000 after purchasing an additional 1,213,390 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities. The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas. Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H. Eric Bolton Jr. since 2001.