Mid-America Apartment Communities (MAA) Price Target Cut to $105.00
Mid-America Apartment Communities (NYSE:MAA) had its price objective trimmed by Cantor Fitzgerald from $110.00 to $105.00 in a report issued on Tuesday. The firm currently has an overweight rating on the real estate investment trust’s stock. Cantor Fitzgerald also issued estimates for Mid-America Apartment Communities’ FY2018 earnings at $6.06 EPS and FY2019 earnings at $6.44 EPS.
“Estimate Update. We have lowered our 2018 FFO/sh. estimates to $6.06 from $6.13, and our SS Revenue estimate to 1.9% from 2.2%. Our NAV/sh. estimate is $104.70 vs. $104.50 prior. On a relative basis, MAA’s 2.0% SS revenue growth guidance for 2018 compares with 1.63% for EQR and 2.1% for AVB.”,” Cantor Fitzgerald’s analyst commented.
Other research analysts have also issued research reports about the stock. DA Davidson set a $110.00 price target on shares of Mid-America Apartment Communities and gave the company a buy rating in a research note on Tuesday, January 30th. ValuEngine lowered shares of Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Friday, February 2nd. Stifel Nicolaus upgraded shares of Mid-America Apartment Communities from a hold rating to a buy rating and set a $100.00 price objective on the stock in a research note on Friday, January 19th. They noted that the move was a valuation call. Jefferies Group lowered shares of Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Thursday, December 14th. Finally, Raymond James Financial reiterated a market perform rating on shares of Mid-America Apartment Communities in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $107.62.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were paid a $0.9225 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.32%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. Mid-America Apartment Communities’s dividend payout ratio is presently 129.02%.
In other Mid-America Apartment Communities news, Director William Reid Sanders acquired 4,100 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were purchased at an average price of $90.98 per share, for a total transaction of $373,018.00. Following the completion of the purchase, the director now directly owns 13,109 shares of the company’s stock, valued at $1,192,656.82. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 4,216 shares of company stock worth $382,935 in the last quarter. Company insiders own 1.25% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Group One Trading L.P. purchased a new stake in Mid-America Apartment Communities during the third quarter worth $209,000. Conning Inc. purchased a new stake in Mid-America Apartment Communities during the fourth quarter worth $211,000. IFM Investors Pty Ltd purchased a new stake in Mid-America Apartment Communities during the third quarter worth $217,000. Timber Hill LLC purchased a new stake in Mid-America Apartment Communities during the third quarter worth $218,000. Finally, Independent Advisor Alliance purchased a new stake in Mid-America Apartment Communities during the third quarter worth $227,000. Hedge funds and other institutional investors own 92.95% of the company’s stock.
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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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