Mid-America Apartment Communities (NYSE:MAA) Earns “Neutral” Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a report released on Monday, Benzinga reports. Wedbush currently has a $135.00 price target on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an equal weight rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a hold rating and a $139.00 price target on the stock. Royal Bank of Canada reissued a sector perform rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Jefferies Financial Group reiterated a hold rating and set a $136.00 price target (down from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Finally, Truist Financial lowered their price target on Mid-America Apartment Communities from $152.00 to $148.00 and set a buy rating on the stock in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $143.06.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $130.62 on Monday. The stock’s 50-day moving average price is $129.17 and its 200 day moving average price is $128.51. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $15.25 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 2.94 and a beta of 0.80. Mid-America Apartment Communities has a 52-week low of $115.56 and a 52-week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). The company had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.32 earnings per share. As a group, equities research analysts forecast that Mid-America Apartment Communities will post 8.92 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.50%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 124.84%.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 2,807 shares of company stock valued at $353,955. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of hedge funds have recently added to or reduced their stakes in MAA. Nordea Investment Management AB grew its position in shares of Mid-America Apartment Communities by 9.2% during the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after acquiring an additional 13,045 shares during the last quarter. Columbus Macro LLC bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $1,280,000. Sunesis Advisors LLC boosted its position in shares of Mid-America Apartment Communities by 393.1% during the fourth quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock worth $3,071,000 after buying an additional 18,210 shares during the period. abrdn plc grew its holdings in Mid-America Apartment Communities by 25.4% in the 4th quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock worth $11,502,000 after buying an additional 17,339 shares in the last quarter. Finally, Wealth Alliance acquired a new stake in Mid-America Apartment Communities in the 4th quarter valued at approximately $235,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.