A number of other analysts have also issued reports on the company. Barclays restated a buy rating on shares of Mid-America Apartment Communities in a report on Wednesday, January 23rd. TheStreet upgraded Mid-America Apartment Communities from a c+ rating to a b- rating in a report on Thursday, February 14th. BMO Capital Markets reiterated a hold rating and set a $102.00 price objective on shares of Mid-America Apartment Communities in a report on Wednesday, January 30th. Zacks Investment Research upgraded Mid-America Apartment Communities from a sell rating to a hold rating in a report on Friday, March 1st. Finally, KeyCorp increased their price objective on Mid-America Apartment Communities from $108.00 to $112.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $108.59.
Shares of MAA traded down $0.81 during trading hours on Monday, hitting $112.69. 914 shares of the company were exchanged, compared to its average volume of 433,163. The firm has a market cap of $12.84 billion, a PE ratio of 18.71, a P/E/G ratio of 4.65 and a beta of 0.48. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities has a one year low of $87.47 and a one year high of $113.80.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.95). The company had revenue of $401.17 million for the quarter, compared to the consensus estimate of $400.91 million. Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. On average, equities research analysts anticipate that Mid-America Apartment Communities will post 6.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a dividend of $0.96 per share. The ex-dividend date was Friday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.41%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 63.58%.
In other news, CEO H Eric Bolton, Jr. sold 338 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $107.04, for a total value of $36,179.52. Following the sale, the chief executive officer now directly owns 222,316 shares of the company’s stock, valued at $23,796,704.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Claude B. Nielsen sold 6,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $109.83, for a total value of $713,895.00. Following the completion of the sale, the director now directly owns 12,117 shares in the company, valued at $1,330,810.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,679 shares of company stock worth $1,057,456. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Lindbrook Capital LLC acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at about $35,000. Zions Bancorporation N.A. grew its position in Mid-America Apartment Communities by 733.0% during the first quarter. Zions Bancorporation N.A. now owns 783 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 689 shares in the last quarter. Doyle Wealth Management acquired a new stake in Mid-America Apartment Communities during the fourth quarter worth about $85,000. Cresset Asset Management LLC acquired a new stake in Mid-America Apartment Communities during the first quarter worth about $124,000. Finally, Welch Group LLC acquired a new stake in Mid-America Apartment Communities during the first quarter worth about $143,000. 93.32% of the stock is currently owned by institutional investors.
Mid-America Apartment Communities Company Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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