Royal Bank of Canada Cuts Mid-America Apartment Communities (NYSE:MAA) Price Target to $165.00

Mid-America Apartment Communities (NYSE:MAA - Free Report) had its price target trimmed by Royal Bank of Canada from $169.00 to $165.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust's stock.

A number of other brokerages have also weighed in on MAA. Piper Sandler upped their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, August 26th. Raymond James upgraded 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 report on Monday, October 21st. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a "buy" rating in a report on Monday, August 26th. Bank of America upgraded shares of Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Finally, Scotiabank boosted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a "sector perform" rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $161.69.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA traded down $2.17 during trading on Friday, reaching $149.17. The company had a trading volume of 1,024,388 shares, compared to its average volume of 755,354. The firm's fifty day moving average is $158.25 and its 200 day moving average is $145.78. The firm has a market capitalization of $17.43 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88. Mid-America Apartment Communities has a twelve month low of $118.68 and a twelve month high of $167.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.94%. Mid-America Apartment Communities's dividend payout ratio is presently 132.73%.

Institutional Trading of Mid-America Apartment Communities

Several large investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in Mid-America Apartment Communities by 22,730.8% in the third quarter. Assetmark Inc. now owns 5,936 shares of the real estate investment trust's stock worth $943,000 after acquiring an additional 5,910 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Mid-America Apartment Communities by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 143,909 shares of the real estate investment trust's stock worth $22,867,000 after buying an additional 4,618 shares during the period. Leeward Investments LLC MA bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth $8,417,000. Harvest Portfolios Group Inc. raised its stake in Mid-America Apartment Communities by 123.5% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 11,218 shares of the real estate investment trust's stock valued at $1,783,000 after purchasing an additional 6,198 shares during the last quarter. Finally, Greenwood Capital Associates LLC raised its stake in Mid-America Apartment Communities by 299.4% during the 3rd quarter. Greenwood Capital Associates LLC now owns 51,134 shares of the real estate investment trust's stock valued at $8,125,000 after purchasing an additional 38,330 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

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.