Morgan Stanley Boosts Mid-America Apartment Communities (NYSE:MAA) Price Target to $138.50

Mid-America Apartment Communities (NYSE:MAAFree Report) had its target price hoisted by Morgan Stanley from $129.50 to $138.50 in a research report report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts have also commented on MAA. Truist Financial cut their price target on Mid-America Apartment Communities from $152.00 to $148.00 and set a buy rating for the company in a report on Tuesday, April 9th. Scotiabank upped their target price on Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a sector perform rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a hold rating and a $139.00 target price for the company. Royal Bank of Canada restated a sector perform rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Finally, Wedbush upgraded Mid-America Apartment Communities from a neutral rating to an outperform rating and upped their target price for the company from $135.00 to $154.00 in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $144.18.

Read Our Latest Analysis on MAA

Mid-America Apartment Communities Stock Up 0.6 %

MAA opened at $137.74 on Wednesday. The business has a 50 day moving average price of $131.05 and a 200 day moving average price of $129.22. Mid-America Apartment Communities has a twelve month low of $115.56 and a twelve month high of $158.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $16.09 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 3.59 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. During the same quarter last year, the firm posted $2.28 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts forecast that Mid-America Apartment Communities will post 8.87 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 4.27%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 123.27%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its position in shares of Mid-America Apartment Communities by 12.2% during the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after purchasing an additional 592,306 shares during the period. Norges Bank bought a new position in shares of Mid-America Apartment Communities during the fourth quarter worth about $713,500,000. Morgan Stanley grew its holdings in shares of Mid-America Apartment Communities by 1.4% during the third quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock worth $301,695,000 after buying an additional 31,813 shares in the last quarter. Blackstone Inc. grew its holdings in shares of Mid-America Apartment Communities by 1.0% during the fourth quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock worth $277,507,000 after buying an additional 20,000 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Mid-America Apartment Communities by 5.7% during the third quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock worth $222,023,000 after buying an additional 93,020 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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