Mid-America Apartment Communities (NYSE:MAA) Upgraded at KeyCorp

KeyCorp upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a sector weight rating to an overweight rating in a report issued on Tuesday morning, Marketbeat reports. KeyCorp currently has $180.00 price objective on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Raymond James raised 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 research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus price target of $163.76.

Mid-America Apartment Communities Trading Down 1.0 %

Shares of NYSE MAA opened at $149.43 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $156.94 and its two-hundred day moving average price is $152.23. Mid-America Apartment Communities has a 52-week low of $121.51 and a 52-week high of $167.39. The stock has a market capitalization of $17.47 billion, a P/E ratio of 33.73, a PEG ratio of 2.55 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly 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 for the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 earnings per share. On average, analysts anticipate that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Wednesday, January 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is currently 136.79%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $26,000. Activest Wealth Management acquired a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $32,000. UMB Bank n.a. boosted its holdings in Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Mid-America Apartment Communities in the third quarter worth approximately $37,000. Institutional investors own 93.60% of the company’s stock.

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.