Mid-America Apartment Communities’ (MAA) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Mid-America Apartment Communities (NYSE:MAAFree Report) in a research note released on Friday, Benzinga reports. They currently have a $136.00 price target on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on MAA. Scotiabank raised shares of Mid-America Apartment Communities from a sector underperform rating to a sector perform rating and upped their target price for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Mizuho upped their target price on shares of Mid-America Apartment Communities from $124.00 to $132.00 and gave the company a neutral rating in a research report on Wednesday, January 10th. Bank of America cut shares of Mid-America Apartment Communities from a neutral rating to an underperform rating and decreased their target price for the company from $136.00 to $112.00 in a research report on Tuesday, October 31st. Jefferies Financial Group reaffirmed a hold rating and issued a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Finally, Truist Financial raised shares of Mid-America Apartment Communities from a hold rating to a buy rating and upped their target price for the company from $154.00 to $158.00 in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $145.26.

View Our Latest Report on Mid-America Apartment Communities

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $125.47 on Friday. Mid-America Apartment Communities has a 52-week low of $115.56 and a 52-week high of $173.43. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 4.70 and a beta of 0.81. The company has a fifty day simple moving average of $131.44 and a 200-day simple moving average of $132.45. The company has a quick ratio of 0.26, a current ratio of 0.09 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The business had revenue of $542.25 million for the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.32 EPS. On average, equities analysts anticipate that Mid-America Apartment Communities will post 9.05 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.69%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Thursday, January 11th. Mid-America Apartment Communities’s dividend payout ratio is presently 124.84%.

Insider Activity

In other news, EVP Melanie Carpenter sold 371 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the sale, the executive vice president now directly owns 19,067 shares of the company’s stock, valued at $2,504,069.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $131.33, for a total transaction of $48,723.43. Following the transaction, the executive vice president now directly owns 19,067 shares in the company, valued at $2,504,069.11. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $130.21, for a total transaction of $524,485.88. Following the transaction, the chief executive officer now owns 304,523 shares in the company, valued at $39,651,939.83. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently modified their holdings of MAA. Brown Brothers Harriman & Co. raised its stake in Mid-America Apartment Communities by 3,650.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 600 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 584 shares during the period. Bank of Nova Scotia raised its stake in shares of Mid-America Apartment Communities by 30.8% in the 4th quarter. Bank of Nova Scotia now owns 15,171 shares of the real estate investment trust’s stock valued at $2,040,000 after acquiring an additional 3,568 shares during the period. Makena Capital Management LLC purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $7,212,000. Gold Investment Management Ltd. acquired a new stake in Mid-America Apartment Communities during the 4th quarter valued at $1,360,000. Finally, Avestar Capital LLC acquired a new stake in Mid-America Apartment Communities during the 4th quarter valued at $251,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

About Mid-America Apartment Communities

(Get Free Report)

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.

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