Mid-America Apartment Communities (NYSE:MAA) Hits New 1-Year High - Time to Buy?

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $173.38 and last traded at $168.38, with a volume of 924528 shares changing hands. The stock had previously closed at $170.92.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MAA. Evercore ISI boosted their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Scotiabank upgraded shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $173.00 to $182.00 in a research report on Friday, February 14th. Wells Fargo & Company lowered their target price on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a report on Friday, January 24th. JMP Securities restated a "market outperform" rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. Finally, Mizuho lowered their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $167.00.

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Mid-America Apartment Communities Stock Down 0.3 %

The company's 50 day simple moving average is $155.62 and its 200-day simple moving average is $157.09. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $19.44 billion, a PE ratio of 37.12, a PEG ratio of 3.72 and a beta of 0.91.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.515 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.06 annualized dividend and a yield of 3.64%. This is a positive change from Mid-America Apartment Communities's previous quarterly dividend of $1.47. Mid-America Apartment Communities's payout ratio is 135.27%.

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds have recently bought and sold shares of MAA. Y Intercept Hong Kong Ltd bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at $2,890,000. Metis Global Partners LLC grew its position in Mid-America Apartment Communities by 9.5% during the 4th quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust's stock worth $2,670,000 after acquiring an additional 1,499 shares during the last quarter. Swedbank AB lifted its position in Mid-America Apartment Communities by 2.6% in the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust's stock valued at $32,350,000 after purchasing an additional 5,178 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Mid-America Apartment Communities by 2.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust's stock valued at $28,711,000 after acquiring an additional 4,301 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Mid-America Apartment Communities during the third quarter worth about $4,304,000. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Company Profile

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.