Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $180.00 at Scotiabank

Mid-America Apartment Communities (NYSE:MAA) had its price objective reduced by Scotiabank from $194.00 to $180.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Raymond James lowered Mid-America Apartment Communities from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $185.00 to $175.00 in a research report on Thursday, May 15th. JMP Securities lifted their price objective on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 22nd. Truist Financial reduced their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating on the stock in a research note on Wednesday, May 21st. Mizuho reduced their target price on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Finally, Barclays boosted their target price on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.76.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $149.62 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities has a twelve month low of $136.85 and a twelve month high of $173.38. The stock’s 50 day moving average is $157.09 and its 200-day moving average is $157.59. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 3.72 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 EPS. Sell-side analysts forecast that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.05%. Mid-America Apartment Communities’s payout ratio is 126.25%.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Amber Fairbanks sold 173 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock valued at $1,171,707 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Hedge funds have recently added to or reduced their stakes in the stock. Metis Global Partners LLC boosted its holdings in Mid-America Apartment Communities by 9.5% in the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock worth $2,670,000 after acquiring an additional 1,499 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its holdings in Mid-America Apartment Communities by 1,582.9% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust’s stock worth $1,035,000 after acquiring an additional 6,300 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Mid-America Apartment Communities by 31.6% during the fourth quarter. Principal Financial Group Inc. now owns 189,428 shares of the real estate investment trust’s stock valued at $29,280,000 after purchasing an additional 45,519 shares in the last quarter. Starwood Capital Group Management L.L.C. lifted its holdings in shares of Mid-America Apartment Communities by 17.7% during the fourth quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust’s stock valued at $33,914,000 after purchasing an additional 33,000 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 0.6% during the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock valued at $1,704,000 after purchasing an additional 69 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.