Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $131.00

Mid-America Apartment Communities (NYSE:MAA) had its price objective lifted by UBS Group from $126.00 to $131.00 in a research report sent to investors on Tuesday morning, Benzinga reports. UBS Group currently has a sell rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on MAA. Mizuho reduced their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Morgan Stanley raised their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an equal weight rating in a research note on Monday, February 26th. Scotiabank upgraded Mid-America Apartment Communities from a sector underperform rating to a sector perform rating and upped their price target for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. The Goldman Sachs Group reiterated a buy rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Finally, Piper Sandler restated a neutral rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $144.18.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock traded up $0.49 during midday trading on Tuesday, reaching $137.35. The company had a trading volume of 98,955 shares, compared to its average volume of 852,496. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. Mid-America Apartment Communities has a 12-month low of $115.56 and a 12-month high of $158.46. The company has a market capitalization of $16.05 billion, a P/E ratio of 28.69, a P/E/G ratio of 3.61 and a beta of 0.80. The firm’s fifty day simple moving average is $131.00 and its 200-day simple moving average is $129.08.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The firm had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. During the same period in the previous year, the company earned $2.28 EPS. Mid-America Apartment Communities’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Mid-America Apartment Communities will post 8.87 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. DecisionPoint Financial LLC purchased a new position in Mid-America Apartment Communities during the 1st quarter worth $26,000. First United Bank & Trust purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth approximately $27,000. Mather Group LLC. acquired a new stake in shares of Mid-America Apartment Communities during the first quarter worth $32,000. Cullen Frost Bankers Inc. purchased a new position in Mid-America Apartment Communities in the 3rd quarter valued at $35,000. Finally, First Financial Corp IN raised its position in Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 86 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

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.