Mid-America Apartment Communities, Inc. (MAA) Downgraded to “Market Perform” at JMP Securities
Several other research firms have also recently commented on MAA. BMO Capital Markets reissued a buy rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, July 27th. Stifel Nicolaus initiated coverage on shares of Mid-America Apartment Communities in a research report on Thursday, August 31st. They set a hold rating and a $113.00 target price on the stock. Zacks Investment Research raised shares of Mid-America Apartment Communities from a hold rating to a buy rating and set a $111.00 target price on the stock in a research report on Wednesday, July 12th. BTIG Research raised shares of Mid-America Apartment Communities from a neutral rating to a buy rating and set a $116.00 target price on the stock in a research report on Friday, September 8th. Finally, Jefferies Group LLC reissued a buy rating and set a $115.00 target price on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Mid-America Apartment Communities currently has an average rating of Buy and an average target price of $109.83.
Mid-America Apartment Communities (MAA) traded down 0.27% during trading on Thursday, hitting $104.81. The company had a trading volume of 749,938 shares. The stock has a 50-day moving average of $107.27 and a 200 day moving average of $104.34. Mid-America Apartment Communities has a one year low of $87.59 and a one year high of $110.95. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 48.46 and a beta of 0.37.
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 Thomson Reuters’ consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The firm had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $382.17 million. During the same quarter last year, the firm earned $1.54 EPS. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities analysts forecast that Mid-America Apartment Communities will post $1.67 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.32%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 148.72%.
In related news, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total value of $730,768.48. Following the completion of the transaction, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.25% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its stake in Mid-America Apartment Communities by 5.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 14,601 shares of the real estate investment trust’s stock valued at $1,561,000 after buying an additional 777 shares in the last quarter. Eqis Capital Management Inc. grew its stake in Mid-America Apartment Communities by 15.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 17,344 shares of the real estate investment trust’s stock valued at $1,854,000 after buying an additional 2,298 shares in the last quarter. Brookfield Asset Management Inc. purchased a new position in Mid-America Apartment Communities in the 2nd quarter valued at approximately $158,747,000. Toronto Dominion Bank grew its stake in Mid-America Apartment Communities by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 38,503 shares of the real estate investment trust’s stock valued at $4,057,000 after buying an additional 7,862 shares in the last quarter. Finally, Hahn Capital Management LLC grew its stake in Mid-America Apartment Communities by 19.0% in the 2nd quarter. Hahn Capital Management LLC now owns 273,802 shares of the real estate investment trust’s stock valued at $28,853,000 after buying an additional 43,651 shares in the last quarter. 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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