Mid-America Apartment Communities (NYSE:MAA) Sets New 1-Year High at $149.10


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Mid-America Apartment Communities, Inc. (NYSE:MAA) shares reached a new 52-week high during trading on Thursday . The company traded as high as $149.10 and last traded at $148.02, with a volume of 2889 shares changing hands. The stock had previously closed at $148.30.

A number of research firms recently weighed in on MAA. Royal Bank of Canada initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, March 30th. They set a “sector perform” rating and a $146.00 price objective for the company. Robert W. Baird cut Mid-America Apartment Communities from an “outperform” rating to a “neutral” rating and raised their price target for the company from $132.00 to $137.00 in a report on Tuesday, February 9th. Smith Barney Citigroup lifted their target price on Mid-America Apartment Communities from $120.00 to $125.00 in a report on Tuesday, December 15th. Mizuho boosted their target price on Mid-America Apartment Communities from $128.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, March 15th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Mid-America Apartment Communities from $120.00 to $125.00 in a report on Tuesday, December 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Mid-America Apartment Communities currently has an average rating of “Buy” and an average target price of $134.36.

The business’s 50-day moving average price is $140.88 and its two-hundred day moving average price is $129.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 53.35 and a beta of 0.66.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Tuesday, February 2nd. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.19. The business had revenue of $423.66 million during the quarter, compared to the consensus estimate of $422.86 million. Mid-America Apartment Communities had a net margin of 19.22% and a return on equity of 5.63%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 6.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Thursday, April 15th will be given a dividend of $1.025 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $4.10 annualized dividend and a dividend yield of 2.78%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 62.60%.

In other Mid-America Apartment Communities news, COO Thomas L. Grimes, Jr. sold 683 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total transaction of $100,018.52. Following the sale, the chief operating officer now owns 82,192 shares in the company, valued at $12,036,196.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas L. Grimes, Jr. sold 406 shares of the business’s stock in a transaction on Tuesday, January 12th. The shares were sold at an average price of $123.51, for a total transaction of $50,145.06. Following the completion of the sale, the chief operating officer now owns 76,047 shares in the company, valued at approximately $9,392,564.97. The disclosure for this sale can be found here. Insiders sold 17,019 shares of company stock valued at $2,437,528 over the last three months. 1.34% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in shares of Mid-America Apartment Communities by 1.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,435,422 shares of the real estate investment trust’s stock valued at $435,234,000 after purchasing an additional 50,714 shares during the period. Northern Trust Corp increased its holdings in shares of Mid-America Apartment Communities by 19.4% in the fourth quarter. Northern Trust Corp now owns 2,207,230 shares of the real estate investment trust’s stock valued at $279,634,000 after purchasing an additional 358,891 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Mid-America Apartment Communities by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,886,887 shares of the real estate investment trust’s stock valued at $239,045,000 after purchasing an additional 20,521 shares during the period. Nuveen Asset Management LLC grew its holdings in Mid-America Apartment Communities by 1.2% in the 3rd quarter. Nuveen Asset Management LLC now owns 1,653,514 shares of the real estate investment trust’s stock valued at $191,724,000 after buying an additional 19,274 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Mid-America Apartment Communities by 1.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,491,052 shares of the real estate investment trust’s stock worth $188,901,000 after purchasing an additional 16,406 shares in the last quarter. 91.38% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile (NYSE:MAA)

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

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