Mid-America Apartment Communities (NYSE:MAA) Sets New 1-Year Low on Analyst Downgrade

Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) shares reached a new 52-week low on Tuesday after Mizuho lowered their price target on the stock from $178.00 to $177.00. Mizuho currently has a neutral rating on the stock. Mid-America Apartment Communities traded as low as $158.70 and last traded at $158.72, with a volume of 9690 shares traded. The stock had previously closed at $165.12.

Other research analysts also recently issued research reports about the stock. Citigroup raised their target price on shares of Mid-America Apartment Communities to $190.00 in a research report on Tuesday, August 9th. Jefferies Financial Group cut their target price on shares of Mid-America Apartment Communities from $212.00 to $201.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Raymond James restated a “downgrade” rating on shares of Mid-America Apartment Communities in a research note on Thursday, August 4th. Credit Suisse Group began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $195.00 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Mid-America Apartment Communities from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.86.

Insider Activity at Mid-America Apartment Communities

In related news, EVP Melanie Carpenter sold 1,355 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $186.27, for a total transaction of $252,395.85. Following the sale, the executive vice president now directly owns 17,953 shares of the company’s stock, valued at approximately $3,344,105.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

Institutional investors have recently added to or reduced their stakes in the business. Tcwp LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter worth approximately $29,000. Johnson Financial Group Inc. bought a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. Clear Street Markets LLC grew its holdings in Mid-America Apartment Communities by 410.6% during the 2nd quarter. Clear Street Markets LLC now owns 240 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 193 shares during the last quarter. CX Institutional bought a new stake in Mid-America Apartment Communities during the 2nd quarter worth approximately $44,000. Finally, Pinnacle Bancorp Inc. bought a new stake in Mid-America Apartment Communities during the 2nd quarter worth approximately $45,000. 93.01% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Down 3.1 %

The stock has a market capitalization of $18.47 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 10.02 and a beta of 0.76. The stock’s fifty day simple moving average is $174.67 and its two-hundred day simple moving average is $184.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.39 and a current ratio of 0.39.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.18). The firm had revenue of $495.04 million during the quarter, compared to analysts’ expectations of $488.64 million. Mid-America Apartment Communities had a return on equity of 10.01% and a net margin of 31.30%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 earnings per share. As a group, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.28 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, July 25th. Shareholders of record on Friday, July 15th were given a dividend of $1.25 per share. This represents a yield of 2.85%. The ex-dividend date of this dividend was Thursday, July 14th. Mid-America Apartment Communities’s dividend payout ratio is currently 98.04%.

Mid-America Apartment Communities Company Profile

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MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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