BMO Capital Markets Cuts Mid-America Apartment Communities (NYSE:MAA) Price Target to $155.00

Mid-America Apartment Communities (NYSE:MAA) had its price target reduced by BMO Capital Markets from $157.00 to $155.00 in a research report released on Tuesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the real estate investment trust’s stock.

MAA has been the subject of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, January 10th. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a report on Tuesday, December 17th. Scotiabank decreased their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Mizuho dropped their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Barclays assumed coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $166.29.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $146.97 on Tuesday. The stock has a market cap of $17.18 billion, a P/E ratio of 33.18, a PEG ratio of 2.41 and a beta of 0.91. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $155.33 and its two-hundred day moving average price is $154.33. Mid-America Apartment Communities has a twelve month low of $121.51 and a twelve month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same period in the prior year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts predict that Mid-America Apartment Communities will post 8.89 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Wednesday, January 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio is currently 136.79%.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Mid-America Apartment Communities in the third quarter worth approximately $25,000. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities in the third quarter worth approximately $32,000. Catalyst Capital Advisors LLC bought a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $37,000. Quarry LP purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $45,000. Finally, UMB Bank n.a. lifted its holdings in shares of Mid-America Apartment Communities by 30.5% during the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 75 shares during the period. 93.60% of the stock is currently owned by 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.