Mid-America Apartment Communities (NYSE:MAA) had its price target increased by KeyCorp from $112.00 to $125.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have an overweight rating on the real estate investment trust’s stock. KeyCorp also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $6.27 EPS and FY2020 earnings at $6.49 EPS.
Several other research firms have also recently weighed in on MAA. SunTrust Banks lifted their price target on Mid-America Apartment Communities to $120.00 and gave the stock a positive rating in a report on Wednesday, June 19th. They noted that the move was a valuation call. Raymond James reissued a buy rating on shares of Teck Resources in a report on Thursday, April 4th. Mizuho set a $27.00 price target on Horizon Therapeutics and gave the stock a hold rating in a report on Wednesday, May 8th. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Monday, May 13th. Finally, Zacks Investment Research cut Hanger from a hold rating to a sell rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $112.18.
NYSE:MAA traded down $1.60 during mid-day trading on Wednesday, hitting $121.96. 563,497 shares of the stock were exchanged, compared to its average volume of 519,349. The stock has a market cap of $13.82 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 4.99 and a beta of 0.40. The stock’s 50-day moving average price is $117.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.14. Mid-America Apartment Communities has a fifty-two week low of $91.21 and a fifty-two week high of $123.88.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.95). The firm had revenue of $401.17 million for the quarter, compared to analyst estimates 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 for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. As a group, equities analysts anticipate that Mid-America Apartment Communities will post 6.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $0.96 dividend. The ex-dividend date is Friday, July 12th. This represents a $3.84 annualized dividend and a yield of 3.15%. Mid-America Apartment Communities’s dividend payout ratio is presently 63.58%.
In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 6,500 shares of Mid-America Apartment Communities stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $109.83, for a total value of $713,895.00. Following the completion of the transaction, the director now directly owns 12,117 shares of the company’s stock, valued at approximately $1,330,810.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MAA. PNC Financial Services Group Inc. raised its holdings in Mid-America Apartment Communities by 2.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,476 shares of the real estate investment trust’s stock valued at $1,002,000 after acquiring an additional 241 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Mid-America Apartment Communities by 14.2% during the 4th quarter. Stephens Inc. AR now owns 2,726 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 340 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Mid-America Apartment Communities by 7.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,185 shares of the real estate investment trust’s stock worth $591,000 after buying an additional 408 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Mid-America Apartment Communities by 62.7% during the 4th quarter. Advisor Group Inc. now owns 3,346 shares of the real estate investment trust’s stock worth $322,000 after buying an additional 1,290 shares in the last quarter. Finally, United Services Automobile Association raised its holdings in shares of Mid-America Apartment Communities by 1.2% during the 4th quarter. United Services Automobile Association now owns 57,393 shares of the real estate investment trust’s stock worth $5,493,000 after buying an additional 667 shares in the last quarter. 92.47% of the stock is owned by hedge funds and other 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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