Shares of Mid-America Apartment Communities Inc (NYSE:MAA) have received an average rating of “Hold” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Twelve analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $102.70.
Several analysts recently commented on MAA shares. Capital One Financial started coverage on Mid-America Apartment Communities in a report on Monday, October 22nd. They issued an “equal weight” rating and a $101.50 target price on the stock. Barclays reiterated a “buy” rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a report on Sunday, October 14th. Robert W. Baird reiterated a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, August 16th. SunTrust Banks restated a “buy” rating and set a $105.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, August 9th. Finally, Scotiabank initiated coverage on Mid-America Apartment Communities in a report on Tuesday, October 16th. They set a “sector perform” rating on the stock.
Several institutional investors have recently bought and sold shares of the business. Cbre Clarion Securities LLC lifted its holdings in shares of Mid-America Apartment Communities by 490.5% in the 2nd quarter. Cbre Clarion Securities LLC now owns 1,670,247 shares of the real estate investment trust’s stock worth $168,144,000 after purchasing an additional 1,387,389 shares in the last quarter. Centersquare Investment Management LLC bought a new position in shares of Mid-America Apartment Communities in the 2nd quarter worth $74,941,000. AMP Capital Investors Ltd lifted its holdings in shares of Mid-America Apartment Communities by 494.9% in the 2nd quarter. AMP Capital Investors Ltd now owns 619,040 shares of the real estate investment trust’s stock worth $62,320,000 after purchasing an additional 514,981 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Mid-America Apartment Communities by 1,097.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 385,973 shares of the real estate investment trust’s stock worth $38,935,000 after purchasing an additional 353,733 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Mid-America Apartment Communities by 3,976.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 230,548 shares of the real estate investment trust’s stock worth $23,901,000 after purchasing an additional 224,892 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.
MAA stock traded down $0.32 during trading on Thursday, hitting $100.66. The company had a trading volume of 5,583 shares, compared to its average volume of 652,808. Mid-America Apartment Communities has a one year low of $85.16 and a one year high of $106.77. The stock has a market capitalization of $11.44 billion, a PE ratio of 17.06, a PEG ratio of 2.37 and a beta of 0.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.17 and a quick ratio of 0.17.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($1.04). Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. The company had revenue of $397.10 million during the quarter, compared to the consensus estimate of $393.76 million. During the same quarter in the previous year, the company earned $1.50 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Mid-America Apartment Communities will post 6.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th were issued a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, October 12th. Mid-America Apartment Communities’s payout ratio is 62.12%.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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