Mid-America Apartment Communities’ (MAA) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Mid-America Apartment Communities (NYSE:MAAFree Report) in a research report sent to investors on Friday, Benzinga reports. They currently have a $136.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on MAA. Piper Sandler cut Mid-America Apartment Communities from an overweight rating to a neutral rating and lowered their price target for the stock from $182.00 to $130.00 in a report on Tuesday, October 31st. Truist Financial upgraded Mid-America Apartment Communities from a hold rating to a buy rating and upped their price target for the stock from $154.00 to $158.00 in a report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft started coverage on Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a hold rating and a $139.00 price target on the stock. Scotiabank upgraded Mid-America Apartment Communities from a sector underperform rating to a sector perform rating and upped their price target for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Finally, Morgan Stanley started coverage on Mid-America Apartment Communities in a report on Tuesday, December 12th. They issued an equal weight rating and a $128.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of Hold and a consensus target price of $145.26.

Get Our Latest Analysis on MAA

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $125.47 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.26 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $131.44 and its two-hundred day moving average is $132.45. Mid-America Apartment Communities has a 12-month low of $115.56 and a 12-month high of $173.43. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 4.70 and a beta of 0.81.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The business had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same quarter in the previous year, the firm posted $2.32 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that Mid-America Apartment Communities will post 9.05 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, January 11th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Insiders Place Their Bets

In related news, EVP Melanie Carpenter sold 371 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the transaction, the executive vice president now directly owns 19,067 shares of the company’s stock, valued at approximately $2,504,069.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Melanie Carpenter sold 371 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the transaction, the executive vice president now directly owns 19,067 shares of the company’s stock, valued at approximately $2,504,069.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the transaction, the chief executive officer now directly owns 304,523 shares in the company, valued at $39,651,939.83. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

Several large investors have recently added to or reduced their stakes in MAA. Norges Bank acquired a new stake in Mid-America Apartment Communities in the 4th quarter valued at $713,500,000. JPMorgan Chase & Co. grew its stake in shares of Mid-America Apartment Communities by 41.7% during the first quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock valued at $491,036,000 after acquiring an additional 956,154 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Mid-America Apartment Communities by 188.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after acquiring an additional 949,171 shares in the last quarter. Morgan Stanley grew its stake in shares of Mid-America Apartment Communities by 63.3% during the fourth quarter. Morgan Stanley now owns 2,208,337 shares of the real estate investment trust’s stock valued at $346,687,000 after acquiring an additional 856,331 shares in the last quarter. Finally, Blackstone Inc. grew its stake in shares of Mid-America Apartment Communities by 51.8% during the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after acquiring an additional 697,200 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

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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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