Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $162.68 Average Target Price from Brokerages

Mid-America Apartment Communities, Inc. (NYSE:MAA) has been given an average rating of “Hold” by the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $163.76.

A number of analysts recently issued reports on MAA shares. Scotiabank decreased their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Barclays started coverage on Mid-America Apartment Communities in a research note on Tuesday. They issued an “equal weight” rating and a $166.00 price objective on the stock. BNP Paribas assumed coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in Mid-America Apartment Communities by 52.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 61,468 shares of the real estate investment trust’s stock valued at $8,766,000 after purchasing an additional 21,212 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Mid-America Apartment Communities by 6.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,698 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 166 shares in the last quarter. Abundance Wealth Counselors bought a new position in Mid-America Apartment Communities in the second quarter valued at $947,000. Portside Wealth Group LLC purchased a new stake in Mid-America Apartment Communities during the second quarter valued at about $808,000. Finally, Blue Trust Inc. raised its position in Mid-America Apartment Communities by 940.2% during the second quarter. Blue Trust Inc. now owns 4,015 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 3,629 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

MAA stock opened at $156.07 on Wednesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The firm has a market cap of $18.24 billion, a PE ratio of 35.23, a P/E/G ratio of 2.55 and a beta of 0.90. The business has a 50 day moving average of $156.93 and a 200-day moving average of $152.08. Mid-America Apartment Communities has a 12-month low of $121.51 and a 12-month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same quarter last year, the company earned $2.29 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Mid-America Apartment Communities will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.88%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 136.79%.

Mid-America Apartment Communities Company Profile

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.