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

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) have been assigned an average rating of "Hold" from the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $162.68.

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a "buy" rating and a $187.00 price target for the company. BNP Paribas assumed coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a "neutral" rating and a $169.00 price target for the company. Piper Sandler increased their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Truist Financial upped their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a "buy" rating in a research report on Monday, August 26th. Finally, Raymond James upgraded Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 target price on the stock in a research report on Monday, October 21st.

Institutional Trading of Mid-America Apartment Communities

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its position in Mid-America Apartment Communities by 52.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 61,468 shares of the real estate investment trust's stock worth $8,766,000 after buying an additional 21,212 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased 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 buying an additional 166 shares during the last quarter. Abundance Wealth Counselors purchased a new stake in Mid-America Apartment Communities in the second quarter worth $947,000. Portside Wealth Group LLC purchased a new stake in Mid-America Apartment Communities in the second quarter worth $808,000. Finally, Blue Trust Inc. increased its position in Mid-America Apartment Communities by 940.2% in the second quarter. Blue Trust Inc. now owns 4,015 shares of the real estate investment trust's stock worth $528,000 after buying an additional 3,629 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

MAA traded down $0.23 on Wednesday, reaching $158.33. The stock had a trading volume of 1,093,881 shares, compared to its average volume of 743,014. Mid-America Apartment Communities has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The firm has a 50-day moving average of $156.69 and a 200-day moving average of $151.30. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results 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). The firm had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 EPS. As a group, sell-side analysts anticipate that Mid-America Apartment Communities will post 8.88 EPS 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. Investors of record on Wednesday, January 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.83%. This is an increase from Mid-America Apartment Communities's previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Wednesday, January 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 132.73%.

About Mid-America Apartment Communities

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.