Mid-America Apartment Communities (NYSE:MAA) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their neutral rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $135.00 price target on the real estate investment trust’s stock.

MAA has been the topic of several other reports. Mizuho decreased their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a neutral rating on the stock in a research report on Wednesday, February 28th. Jefferies Financial Group reissued a hold rating and issued a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. Royal Bank of Canada reissued a sector perform rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a hold rating and a $139.00 target price for the company. Finally, Truist Financial cut their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a buy rating for the company in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $143.06.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $131.67 on Monday. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $158.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $129.23 and its 200 day simple moving average is $128.52. The firm has a market capitalization of $15.37 billion, a PE ratio of 27.96, a P/E/G ratio of 2.92 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The business had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. During the same quarter in the prior year, the firm earned $2.28 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Mid-America Apartment Communities will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Mid-America Apartment Communities

Institutional investors and hedge funds have recently bought and sold shares of the business. First United Bank & Trust acquired a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $27,000. DecisionPoint Financial LLC purchased a new position in Mid-America Apartment Communities in the 1st quarter worth approximately $26,000. Mather Group LLC. purchased a new position in Mid-America Apartment Communities in the 1st quarter worth approximately $32,000. Cullen Frost Bankers Inc. purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $35,000. Finally, CVA Family Office LLC purchased a new position in Mid-America Apartment Communities in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.