Mid-America Apartment Communities (NYSE:MAA – Free Report) had its price objective lowered by KeyCorp from $180.00 to $170.00 in a report released on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock.
MAA has been the topic of a number of other reports. Piper Sandler decreased their price target on Mid-America Apartment Communities from $170.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Barclays decreased their price target on Mid-America Apartment Communities from $172.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Mizuho decreased their price target on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Evercore ISI decreased their price target on Mid-America Apartment Communities from $155.00 to $152.00 and set an “in-line” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.21.
View Our Latest Stock Analysis on MAA
Mid-America Apartment Communities Stock Up 0.6%
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. The firm had revenue of $549.90 million for the quarter, compared to analyst estimates of $552.19 million. During the same period last year, the company earned $2.22 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts anticipate that Mid-America Apartment Communities will post 8.84 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, July 31st. Investors of record on Tuesday, July 15th were issued a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.69%.
Institutional Investors Weigh In On Mid-America Apartment Communities
Several hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its holdings in shares of Mid-America Apartment Communities by 10.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 260,701 shares of the real estate investment trust’s stock valued at $38,612,000 after buying an additional 24,684 shares during the period. 44 Wealth Management LLC raised its holdings in shares of Mid-America Apartment Communities by 43.2% during the 2nd quarter. 44 Wealth Management LLC now owns 3,963 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 1,196 shares during the period. Adelante Capital Management LLC raised its holdings in shares of Mid-America Apartment Communities by 82.1% during the 2nd quarter. Adelante Capital Management LLC now owns 128,589 shares of the real estate investment trust’s stock valued at $19,032,000 after buying an additional 57,977 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $51,000. Finally, Corient Private Wealth LLC increased its holdings in Mid-America Apartment Communities by 21.3% during the 2nd quarter. Corient Private Wealth LLC now owns 12,489 shares of the real estate investment trust’s stock worth $1,849,000 after purchasing an additional 2,189 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.
About Mid-America Apartment Communities
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.
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