Scotiabank Lowers Mid-America Apartment Communities (NYSE:MAA) Price Target to $173.00

Mid-America Apartment Communities (NYSE:MAA) had its target price trimmed by Scotiabank from $174.00 to $173.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on the stock. JMP Securities raised their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price for the company. Truist Financial raised their target price 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. UBS Group raised their target price on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a report on Thursday, July 18th. Finally, StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average price target of $161.64.

Mid-America Apartment Communities Trading Up 0.5 %

Mid-America Apartment Communities stock opened at $158.09 on Thursday. The firm has a 50 day simple moving average of $157.27 and a 200-day simple moving average of $148.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $18.48 billion, a PE ratio of 35.69, 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.

Mid-America Apartment Communities (NYSE:MAA) last posted 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). The company had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. As a group, equities research 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.72%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. grew its stake 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 buying an additional 3,451 shares during the last quarter. Swedbank AB acquired a new position in Mid-America Apartment Communities in the 1st quarter valued at $26,107,000. Prosperity Consulting Group LLC acquired a new position in Mid-America Apartment Communities in the 2nd quarter valued at $2,572,000. Portside Wealth Group LLC acquired a new position in Mid-America Apartment Communities in the 2nd quarter valued at $808,000. Finally, Empowered Funds LLC acquired a new position in Mid-America Apartment Communities in the 1st quarter valued at $232,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

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.