Mid-America Apartment Communities (NYSE:MAA) Raised to "Overweight" at KeyCorp

KeyCorp upgraded shares of Mid-America Apartment Communities (NYSE:MAA - Free Report) from a sector weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. KeyCorp currently has $180.00 target price on the real estate investment trust's stock.

Other analysts also recently issued reports about the company. The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a "buy" rating and a $187.00 price target for the company. Raymond James raised shares of 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. Royal Bank of Canada lowered their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. Truist Financial upped their price objective on shares of 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, Piper Sandler lifted their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $163.76.

Mid-America Apartment Communities Trading Down 1.6 %

Shares of NYSE MAA traded down $2.48 on Tuesday, reaching $156.07. 760,632 shares of the company traded hands, compared to its average volume of 739,862. The company has a 50 day moving average of $156.93 and a 200 day moving average of $152.08. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The stock has a market capitalization of $18.24 billion, a PE ratio of 35.23, a P/E/G ratio of 2.55 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) 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 the consensus estimate of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to analysts' expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. On average, equities research analysts forecast that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $1.515 per share. This is a boost from Mid-America Apartment Communities's previous quarterly dividend of $1.47. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Wednesday, January 15th. Mid-America Apartment Communities's payout ratio is currently 136.79%.

Institutional Investors Weigh In On Mid-America Apartment Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at $25,000. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth $26,000. Activest Wealth Management purchased a new stake in shares of Mid-America Apartment Communities during the third quarter valued at $32,000. Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at $37,000. Finally, UMB Bank n.a. raised its holdings in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust's stock worth $34,000 after buying an additional 108 shares during the period. Institutional investors own 93.60% of the company's stock.

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.