Mid-America Apartment Communities’ (MAA) “Hold” Rating Reaffirmed at Mizuho
Mizuho reissued their hold rating on shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in a report published on Monday morning. They currently have a $110.00 price objective on the real estate investment trust’s stock.
Several other research firms have also commented on MAA. Jefferies Group LLC restated a buy rating and issued a $120.00 price target on shares of Mid-America Apartment Communities in a report on Sunday, September 10th. ValuEngine upgraded shares of Mid-America Apartment Communities from a hold rating to a buy rating in a report on Friday, September 8th. BidaskClub upgraded shares of Mid-America Apartment Communities from a buy rating to a strong-buy rating in a report on Saturday, August 26th. BTIG Research raised shares of Mid-America Apartment Communities from a neutral rating to a buy rating and set a $116.00 price objective on the stock in a research report on Friday, September 8th. Finally, Stifel Nicolaus assumed coverage on shares of Mid-America Apartment Communities in a research report on Thursday, August 31st. They issued a hold rating and a $113.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $109.25.
Mid-America Apartment Communities (MAA) traded up $0.75 during trading hours on Monday, hitting $105.03. 479,569 shares of the stock traded hands, compared to its average volume of 650,541. Mid-America Apartment Communities has a twelve month low of $87.59 and a twelve month high of $110.95. The company has a market cap of $11,960.00, a price-to-earnings ratio of 17.41, a P/E/G ratio of 2.50 and a beta of 0.35.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, beating the consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The business had revenue of $384.60 million during the quarter, compared to analyst estimates of $386.96 million. During the same quarter in the previous year, the business posted $1.47 EPS. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. analysts expect that Mid-America Apartment Communities will post 5.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, October 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 156.76%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 6,872 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the sale, the director now owns 77,180 shares of the company’s stock, valued at approximately $8,207,321.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William Reid Sanders bought 7,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were bought at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the transaction, the director now owns 8,209 shares in the company, valued at approximately $821,802.99. The disclosure for this purchase can be found here. 1.25% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. grew its position in Mid-America Apartment Communities by 32.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 382 shares during the last quarter. Timber Hill LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth approximately $218,000. Commerce Bank purchased a new stake in Mid-America Apartment Communities during the 2nd quarter worth approximately $223,000. Parametrica Management Ltd purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth approximately $236,000. Finally, BB&T Securities LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter worth approximately $237,000. 91.27% of the stock is currently owned by institutional investors.
Mid-America Apartment Communities Company Profile
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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