Mid-America Apartment Communities (NYSE:MAA) Stock Gets Price Target Reduction from Cantor Fitzgerald

Mid-America Apartment Communities (NYSE:MAA) had its price objective decreased by Cantor Fitzgerald from $140.00 to $127.00 in a research note issued to investors on Monday morning,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on MAA. Weiss Ratings downgraded Mid-America Apartment Communities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, November 3rd. Royal Bank Of Canada decreased their target price on shares of Mid-America Apartment Communities from $138.00 to $127.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 13th. Morgan Stanley cut their target price on Mid-America Apartment Communities from $155.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Citigroup reissued a “market outperform” rating on shares of Mid-America Apartment Communities in a research note on Friday, October 30th. Finally, Truist Financial lowered their price target on Mid-America Apartment Communities from $146.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, September 17th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $136.82.

Mid-America Apartment Communities Trading Down 0.6%

Shares of MAA stock opened at $118.12 on Monday. The firm’s 50 day moving average price is $119.59 and its two-hundred day moving average price is $128.53. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.08. Mid-America Apartment Communities has a fifty-two week low of $113.95 and a fifty-two week high of $144.41. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 35.79 and a beta of 0.71.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The company had revenue of $560.13 million during the quarter, compared to analysts’ expectations of $558.07 million. During the same period in the previous year, the company earned $2.16 EPS. Mid-America Apartment Communities’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts anticipate that Mid-America Apartment Communities will post 8.50 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were paid a dividend of $1.53 per share. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $6.12 annualized dividend and a dividend yield of 5.2%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 185.45%.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Adrian Hill bought 844 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average cost of $118.35 per share, for a total transaction of $99,887.40. Following the acquisition, the executive vice president directly owned 65,277 shares of the company’s stock, valued at $7,725,532.95. The trade was a 1.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC raised its holdings in Mid-America Apartment Communities by 593.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 172 shares during the period. Provenance Wealth Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the third quarter worth about $30,000. Raiffeisen Bank International AG lifted its holdings in shares of Mid-America Apartment Communities by 116.7% in the second quarter. Raiffeisen Bank International AG now owns 221 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $34,000. Finally, Jacobi Capital Management LLC acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at approximately $34,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities. The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas. Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H. Eric Bolton Jr. since 2001.