ValuEngine upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a hold rating to a buy rating in a report published on Monday morning, ValuEngine reports.
Other research analysts have also recently issued research reports about the company. Barclays reaffirmed a buy rating on shares of Mid-America Apartment Communities in a research note on Wednesday, January 23rd. TheStreet raised Mid-America Apartment Communities from a c+ rating to a b- rating in a research note on Thursday, February 14th. BMO Capital Markets reaffirmed a hold rating and set a $102.00 target price on shares of Mid-America Apartment Communities in a research note on Wednesday, January 30th. Zacks Investment Research raised Mid-America Apartment Communities from a sell rating to a hold rating in a research note on Friday, March 1st. Finally, KeyCorp raised their target price on Mid-America Apartment Communities from $108.00 to $112.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $108.59.
Shares of MAA opened at $111.48 on Monday. The firm has a market cap of $12.66 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.71 and a beta of 0.48. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities has a one year low of $87.47 and a one year high of $112.74.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.95). The business had revenue of $401.17 million for the quarter, compared to analyst estimates of $400.91 million. Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. Mid-America Apartment Communities’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business posted $1.36 earnings per share. Sell-side analysts anticipate that Mid-America Apartment Communities will post 6.21 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a $0.96 dividend. The ex-dividend date was Friday, April 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.44%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 63.58%.
In related news, Director Claude B. Nielsen sold 6,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $109.83, for a total value of $713,895.00. Following the completion of the transaction, the director now owns 12,117 shares in the company, valued at approximately $1,330,810.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas L. Grimes, Jr. sold 340 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $108.58, for a total value of $36,917.20. Following the completion of the transaction, the chief operating officer now owns 54,444 shares of the company’s stock, valued at approximately $5,911,529.52. The disclosure for this sale can be found here. Insiders sold a total of 9,679 shares of company stock valued at $1,057,456 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Putnam FL Investment Management Co. lifted its stake in Mid-America Apartment Communities by 1.0% in the 1st quarter. Putnam FL Investment Management Co. now owns 43,228 shares of the real estate investment trust’s stock worth $4,726,000 after acquiring an additional 427 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Mid-America Apartment Communities by 1.5% in the 1st quarter. Macquarie Group Ltd. now owns 52,168 shares of the real estate investment trust’s stock worth $5,705,000 after acquiring an additional 773 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Mid-America Apartment Communities by 16.9% in the 1st quarter. Advisors Asset Management Inc. now owns 5,896 shares of the real estate investment trust’s stock worth $645,000 after acquiring an additional 854 shares in the last quarter. SEI Investments Co lifted its stake in Mid-America Apartment Communities by 33.5% in the 1st quarter. SEI Investments Co now owns 157,081 shares of the real estate investment trust’s stock worth $17,178,000 after acquiring an additional 39,411 shares in the last quarter. Finally, Community Capital Management Inc. purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth about $219,000. 93.32% of the stock is owned by hedge funds and other institutional investors.
About Mid-America Apartment Communities
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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