Mid-America Apartment Communities (NYSE:MAA) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Mid-America Apartment Communities (NYSE:MAA) from a hold rating to a sell rating in a report released on Sunday,Wall Street Zen reports.

A number of other research firms also recently issued reports on MAA. Cantor Fitzgerald reiterated a “neutral” rating on shares of Mid-America Apartment Communities in a research note on Thursday, August 27th. Truist Financial reduced their price objective on shares of Mid-America Apartment Communities from $146.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. UBS Group lowered their target price on Mid-America Apartment Communities from $129.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Citigroup reaffirmed a “market outperform” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, September 2nd. Finally, BNP Paribas Exane raised Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and an average price target of $137.82.

Mid-America Apartment Communities Trading Down 0.7%

Shares of Mid-America Apartment Communities stock opened at $118.69 on Friday. Mid-America Apartment Communities has a 1 year low of $113.95 and a 1 year high of $144.41. The firm’s 50-day moving average is $122.24 and its two-hundred day moving average is $129.46.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating the consensus estimate of $0.76 by $1.32. The business had revenue of $555.13 million during the quarter, compared to the consensus estimate of $556.18 million. During the same quarter in the prior year, the firm posted $2.15 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts expect that Mid-America Apartment Communities will post 8.51 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $1.53 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.12 dividend on an annualized basis and a yield of 5.2%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Mid-America Apartment Communities in the second quarter worth $1,820,661,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Mid-America Apartment Communities during the second quarter valued at $175,377,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Mid-America Apartment Communities by 15,892.5% in the 2nd 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 valued at $169,649,000 after acquiring an additional 1,213,390 shares during the period. Legal & General Group Plc acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at $155,052,000. Finally, Bank of America Corp DE acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at $113,695,000. 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 real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.

MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.