Mid-America Apartment Communities (NYSE:MAA) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

A number of other research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $138.00 to $174.00 in a research note on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. 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 company from $144.00 to $189.00 in a research note on Monday, August 12th. Finally, Piper Sandler boosted their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $161.69.

Mid-America Apartment Communities Trading Up 3.4 %

Shares of Mid-America Apartment Communities stock traded up $5.28 during trading on Tuesday, hitting $159.97. The stock had a trading volume of 103,004 shares, compared to its average volume of 751,359. The firm’s fifty day simple moving average is $157.59 and its 200-day simple moving average is $146.74. The stock has a market cap of $18.70 billion, a PE ratio of 34.92, a PEG ratio of 2.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a 12 month low of $118.72 and a 12 month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results 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 firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. As a group, sell-side analysts expect that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.68%. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after purchasing an additional 393,067 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mid-America Apartment Communities by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock valued at $244,803,000 after acquiring an additional 97,672 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Mid-America Apartment Communities by 2.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock valued at $234,497,000 after acquiring an additional 44,621 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Mid-America Apartment Communities by 1.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock valued at $190,086,000 after acquiring an additional 21,000 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Mid-America Apartment Communities by 7.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock valued at $162,616,000 after acquiring an additional 74,936 shares during the last quarter. Institutional investors and hedge funds 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.