Mid-America Apartment Communities Inc. (NYSE:MAA) was upgraded by DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $105.00 target price on the real estate investment trust’s stock, down from their prior target price of $106.00. DA Davidson’s target price suggests a potential upside of 14.24% from the company’s current price.

Several other equities research analysts also recently weighed in on MAA. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research note on Wednesday, July 6th. BMO Capital Markets cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $108.00 to $114.00 in a report on Friday, July 8th. They noted that the move was a valuation call. KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $119.00 price target for the company in a report on Friday, July 15th. SunTrust Banks Inc. reiterated a “hold” rating and set a $110.00 price target (up previously from $103.00) on shares of Mid-America Apartment Communities in a report on Friday, July 15th. Finally, Jefferies Group reiterated a “hold” rating and set a $115.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, July 28th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $104.96.

Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

Mid-America Apartment Communities (NYSE:MAA) opened at 91.91 on Monday. Mid-America Apartment Communities has a 1-year low of $82.05 and a 1-year high of $110.01. The stock’s 50 day moving average is $92.63 and its 200-day moving average is $99.09. The company has a market capitalization of $6.94 billion, a P/E ratio of 31.06 and a beta of 0.33.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, July 27th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.08. Mid-America Apartment Communities had a net margin of 20.93% and a return on equity of 7.10%. The firm had revenue of $272.20 million for the quarter, compared to the consensus estimate of $272.71 million. During the same period in the prior year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that Mid-America Apartment Communities will post $5.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, October 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 111.56%.

Several large investors have recently modified their holdings of MAA. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $104,000. Synovus Financial Corp boosted its stake in shares of Mid-America Apartment Communities by 58.8% in the second quarter. Synovus Financial Corp now owns 1,350 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 500 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $149,000. Bessemer Group Inc. boosted its stake in shares of Mid-America Apartment Communities by 99.6% in the second quarter. Bessemer Group Inc. now owns 1,459 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 728 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 96.86% of the company’s stock.

Mid-America Apartment Communities Company Profile

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