Brokerages Set Mid-America Apartment Communities, Inc. (NYSE:MAA) Target Price at $161.64

Mid-America Apartment Communities, Inc. (NYSE:MAA) has been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $161.64.

Several research firms have recently issued reports on MAA. Truist Financial boosted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $138.00 to $174.00 in a research note on Monday, August 26th. Wedbush increased their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Royal Bank of Canada reduced their target price 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 note on Friday, November 1st. Finally, The Goldman Sachs Group started coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price for the company.

Institutional Trading of Mid-America Apartment Communities

Institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. boosted its holdings in Mid-America Apartment Communities by 12.8% in the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after purchasing an additional 3,451 shares during the period. Swedbank AB bought a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth approximately $26,107,000. Prosperity Consulting Group LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $2,572,000. Portside Wealth Group LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $808,000. Finally, Empowered Funds LLC bought a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth approximately $232,000. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 0.3 %

Shares of NYSE:MAA opened at $158.52 on Friday. The firm has a fifty day moving average of $157.23 and a two-hundred day moving average of $148.46. The firm has a market capitalization of $18.53 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88. Mid-America Apartment Communities has a 12-month low of $120.32 and a 12-month high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data 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). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same period in the previous year, the firm posted $2.29 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts expect that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

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.