Mid-America Apartment Communities (NYSE:MAA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Mid-America Apartment Communities (NYSE:MAA – Get Rating) in a research note released on Thursday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

MAA has been the topic of several other reports. Wolfe Research assumed coverage on Mid-America Apartment Communities in a research report on Tuesday, November 22nd. They issued a market perform rating on the stock. BTIG Research cut their target price on Mid-America Apartment Communities from $225.00 to $175.00 and set a buy rating on the stock in a research report on Wednesday, January 11th. Credit Suisse Group downgraded Mid-America Apartment Communities from an outperform rating to a neutral rating and set a $160.00 target price on the stock. in a research report on Monday, January 9th. Barclays upped their target price on Mid-America Apartment Communities from $185.00 to $192.00 and gave the company an overweight rating in a research report on Wednesday, March 1st. Finally, The Goldman Sachs Group raised shares of Mid-America Apartment Communities from a neutral rating to a buy rating and upped their price target for the company from $178.00 to $194.00 in a report on Thursday, December 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of Hold and a consensus target price of $177.00.

Mid-America Apartment Communities Stock Down 2.8 %

Shares of MAA stock traded down $4.14 during trading hours on Thursday, reaching $145.29. 1,025,336 shares of the company’s stock were exchanged, compared to its average volume of 759,994. The stock’s 50 day moving average is $161.72 and its 200-day moving average is $159.12. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 8.15 and a beta of 0.77. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.71. Mid-America Apartment Communities has a fifty-two week low of $141.13 and a fifty-two week high of $217.64.

Mid-America Apartment Communities (NYSE:MAA – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.61). Mid-America Apartment Communities had a return on equity of 10.72% and a net margin of 31.51%. The business had revenue of $527.97 million for the quarter, compared to analyst estimates of $529.90 million. During the same period in the previous year, the company posted $1.90 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts predict that Mid-America Apartment Communities will post 9.17 earnings per share for the current fiscal year.

Mid-America Apartment Communities Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $1.063 per share. This represents a $4.25 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Tuesday, March 14th. Mid-America Apartment Communities’s payout ratio is currently 102.00%.

Insider Transactions at Mid-America Apartment Communities

In other news, EVP Melanie Carpenter sold 269 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $155.57, for a total transaction of $41,848.33. Following the sale, the executive vice president now directly owns 17,499 shares of the company’s stock, valued at approximately $2,722,319.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Melanie Carpenter sold 269 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $155.57, for a total transaction of $41,848.33. Following the completion of the transaction, the executive vice president now owns 17,499 shares in the company, valued at approximately $2,722,319.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Albert M. Campbell III sold 883 shares of the company’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $153.85, for a total transaction of $135,849.55. Following the transaction, the chief financial officer now owns 55,826 shares of the company’s stock, valued at approximately $8,588,830.10. The disclosure for this sale can be found here. Insiders have sold a total of 2,462 shares of company stock valued at $379,401 in the last ninety days. 1.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Treasurer of the State of North Carolina raised its position in shares of Mid-America Apartment Communities by 1.2% during the 3rd quarter. Treasurer of the State of North Carolina now owns 50,778 shares of the real estate investment trust’s stock worth $7,874,000 after purchasing an additional 620 shares during the last quarter. Corient Capital Partners LLC raised its holdings in Mid-America Apartment Communities by 10.0% in the 2nd quarter. Corient Capital Partners LLC now owns 1,611 shares of the real estate investment trust’s stock valued at $281,000 after acquiring an additional 147 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Mid-America Apartment Communities by 101.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 215,655 shares of the real estate investment trust’s stock valued at $37,668,000 after acquiring an additional 108,672 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $398,000. Finally, Aew Capital Management L P raised its holdings in Mid-America Apartment Communities by 14.6% in the 3rd quarter. Aew Capital Management L P now owns 187,246 shares of the real estate investment trust’s stock valued at $29,036,000 after acquiring an additional 23,840 shares during the last quarter. Institutional investors and hedge funds own 91.20% of the company’s stock.

Mid-America Apartment Communities Company Profile

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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 following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.