Mid-America Apartment Communities, Inc. (MAA) Given Hold Rating at Mizuho
Mizuho reaffirmed their hold rating on shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in a report issued on Sunday. The firm currently has a $106.00 price objective on the real estate investment trust’s stock.
A number of other research firms have also commented on MAA. BMO Capital Markets reissued a buy rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. Stifel Nicolaus started coverage on Mid-America Apartment Communities in a report on Thursday, August 31st. They issued a hold rating and a $113.00 target price for the company. Zacks Investment Research raised Mid-America Apartment Communities from a hold rating to a buy rating and set a $111.00 target price for the company in a report on Wednesday, July 12th. BTIG Research raised Mid-America Apartment Communities from a neutral rating to a buy rating and set a $116.00 target price for the company in a report on Friday, September 8th. Finally, Jefferies Group LLC reissued a buy rating and issued a $115.00 target price on shares of Mid-America Apartment Communities in a report on Monday, July 10th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $109.46.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded down 0.32% during midday trading on Friday, reaching $108.43. The company had a trading volume of 96,267 shares. The company has a market capitalization of $12.32 billion, a P/E ratio of 50.13 and a beta of 0.37. Mid-America Apartment Communities has a one year low of $87.59 and a one year high of $110.95. The company has a 50-day moving average price of $107.33 and a 200 day moving average price of $104.22.
Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.03. The business had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 EPS. Equities analysts anticipate that Mid-America Apartment Communities will post $1.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be given a dividend of $0.87 per share. The ex-dividend date is Thursday, October 12th. This represents a $3.48 annualized dividend and a yield of 3.20%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 148.72%.
In other news, Director David P. Stockert sold 6,872 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total value of $730,768.48. Following the transaction, the director now directly owns 77,180 shares in the company, valued at $8,207,321.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.25% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in MAA. Bronfman E.L. Rothschild L.P. lifted its position in shares of Mid-America Apartment Communities by 32.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 382 shares in the last quarter. Commerce Bank purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth about $223,000. BB&T Securities LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth about $237,000. MAI Capital Management purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth about $247,000. Finally, RFG Advisory Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth about $282,000. Institutional investors and hedge funds own 91.53% of the company’s stock.
About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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