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

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

Several other analysts have also recently commented on MAA. Truist Financial upped their target price on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Royal Bank of Canada increased their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Barclays cut their price target on shares of Mid-America Apartment Communities from $163.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Finally, Mizuho decreased their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and a consensus target price of $168.76.

Mid-America Apartment Communities Trading Up 0.8 %

Shares of NYSE MAA opened at $159.63 on Wednesday. The firm has a 50 day moving average price of $161.29 and a two-hundred day moving average price of $157.09. The stock has a market cap of $18.66 billion, a P/E ratio of 35.63, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. Mid-America Apartment Communities has a 52-week low of $125.99 and a 52-week high of $173.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. As a group, equities analysts forecast that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 135.27%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the transaction, the chief executive officer now directly owns 319,813 shares of the company’s stock, valued at $47,949,563.09. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 7,140 shares of company stock worth $1,142,842 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in MAA. CoreCap Advisors LLC raised its position in Mid-America Apartment Communities by 94.9% in the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 112 shares during the period. IFP Advisors Inc raised its holdings in shares of Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 68 shares during the period. GoalVest Advisory LLC lifted its stake in Mid-America Apartment Communities by 200.0% in the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 160 shares during the last quarter. Headlands Technologies LLC bought a new position in Mid-America Apartment Communities during the fourth quarter valued at $46,000. Finally, NBC Securities Inc. purchased a new stake in Mid-America Apartment Communities in the first quarter worth $46,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.