Brokerages Set Mid-America Apartment Communities, Inc. (NYSE:MAA) Target Price at $168.90

Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-one brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $168.90.

MAA has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating on the stock in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Mizuho cut their target price on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Morgan Stanley raised Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $159.50 to $168.00 in a research report on Friday, January 24th. Finally, Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $148.00 to $190.00 in a research note on Monday, March 10th.

Remove Ads

Mid-America Apartment Communities Stock Down 0.3 %

Shares of MAA stock traded down $0.52 on Friday, hitting $163.19. The company's stock had a trading volume of 605,919 shares, compared to its average volume of 668,072. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 36.43, a P/E/G ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities has a fifty-two week low of $123.73 and a fifty-two week high of $173.38. The firm's fifty day moving average price is $158.48 and its 200-day moving average price is $157.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. Research analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio is 135.27%.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several large investors have recently modified their holdings of the stock. Inspire Investing LLC lifted its position in shares of Mid-America Apartment Communities by 0.9% during the 4th quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust's stock worth $1,233,000 after buying an additional 68 shares during the period. IFP Advisors Inc lifted its holdings in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 68 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Mid-America Apartment Communities by 0.6% in the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 69 shares in the last quarter. Huntington National Bank boosted its stake in shares of Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock valued at $181,000 after purchasing an additional 70 shares in the last quarter. Finally, Chesley Taft & Associates LLC grew its holdings in shares of Mid-America Apartment Communities by 1.6% in the 4th quarter. Chesley Taft & Associates LLC now owns 4,828 shares of the real estate investment trust's stock worth $746,000 after purchasing an additional 75 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.