Mid-America Apartment Communities Inc (NYSE:MAA) – Research analysts at DA Davidson cut their Q1 2018 earnings per share (EPS) estimates for Mid-America Apartment Communities in a research note issued on Friday, Zacks Investment Research reports. DA Davidson analyst J. Lykins now expects that the real estate investment trust will post earnings of $1.44 per share for the quarter, down from their previous forecast of $1.49. DA Davidson has a “Buy” rating and a $110.00 price objective on the stock. DA Davidson also issued estimates for Mid-America Apartment Communities’ Q2 2018 earnings at $1.46 EPS, Q3 2018 earnings at $1.54 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $5.99 EPS, Q1 2019 earnings at $1.55 EPS, Q2 2019 earnings at $1.56 EPS, Q3 2019 earnings at $1.63 EPS, Q4 2019 earnings at $1.64 EPS and FY2019 earnings at $6.38 EPS.
Several other equities analysts also recently weighed in on MAA. Zacks Investment Research downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Mizuho set a $91.00 price objective on Mid-America Apartment Communities and gave the stock a “hold” rating in a research report on Friday, February 9th. Barclays lowered their price objective on Mid-America Apartment Communities from $113.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, Jefferies Group restated a “hold” rating and set a $99.00 target price on shares of Mid-America Apartment Communities in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $106.15.
Mid-America Apartment Communities (NYSE MAA) traded down $1.08 during midday trading on Monday, reaching $86.91. The company’s stock had a trading volume of 86,243 shares, compared to its average volume of 815,547. The firm has a market cap of $9,969.63, a P/E ratio of 14.77, a P/E/G ratio of 2.07 and a beta of 0.28. Mid-America Apartment Communities has a 52 week low of $85.30 and a 52 week high of $110.95.
Hedge funds and other institutional investors have recently modified their holdings of the business. Gilman Hill Asset Management LLC lifted its stake in Mid-America Apartment Communities by 9.2% in the third quarter. Gilman Hill Asset Management LLC now owns 6,193 shares of the real estate investment trust’s stock valued at $662,000 after buying an additional 520 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Mid-America Apartment Communities by 41.9% in the third quarter. Janus Henderson Group PLC now owns 802,899 shares of the real estate investment trust’s stock valued at $85,813,000 after purchasing an additional 237,268 shares during the period. Toronto Dominion Bank increased its holdings in shares of Mid-America Apartment Communities by 12.0% in the third quarter. Toronto Dominion Bank now owns 43,113 shares of the real estate investment trust’s stock valued at $4,607,000 after purchasing an additional 4,610 shares during the period. Forsta AP Fonden increased its holdings in shares of Mid-America Apartment Communities by 35.0% in the third quarter. Forsta AP Fonden now owns 47,100 shares of the real estate investment trust’s stock valued at $5,034,000 after purchasing an additional 12,200 shares during the period. Finally, Brookfield Asset Management Inc. acquired a new position in shares of Mid-America Apartment Communities in the second quarter valued at approximately $158,747,000. Institutional investors own 92.18% of the company’s stock.
In other news, Director William Reid Sanders acquired 4,100 shares of Mid-America Apartment Communities stock in a transaction on Friday, February 2nd. The stock was bought at an average price of $90.98 per share, for a total transaction of $373,018.00. Following the completion of the purchase, the director now owns 13,109 shares in the company, valued at $1,192,656.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Shorb acquired 500 shares of Mid-America Apartment Communities stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $86.53 per share, with a total value of $43,265.00. Following the purchase, the director now owns 4,750 shares of the company’s stock, valued at approximately $411,017.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 4,716 shares of company stock valued at $426,200. 1.25% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 12th were paid a dividend of $0.9225 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $3.69 annualized dividend and a yield of 4.25%. Mid-America Apartment Communities’s payout ratio is presently 129.02%.
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About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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