Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $169.50 Consensus Price Target from Brokerages

Mid-America Apartment Communities, Inc. (NYSE:MAA) has been given an average rating of “Moderate Buy” by the twenty-two research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $169.50.

Several equities research analysts have issued reports on the stock. Robert W. Baird boosted their price target on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Barclays upped their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Scotiabank lifted their price objective on Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 12th. Truist Financial lowered their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $190.00 in a research report on Monday, March 10th.

Mid-America Apartment Communities Stock Up 0.1%

Shares of Mid-America Apartment Communities stock opened at $149.95 on Wednesday. Mid-America Apartment Communities has a 12-month low of $135.70 and a 12-month high of $173.38. The stock has a 50 day moving average price of $157.73 and a two-hundred day moving average price of $157.92. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $17.55 billion, a P/E ratio of 33.47, a PEG ratio of 3.72 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 EPS. Equities analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 126.25%.

Insider Buying and Selling

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total value of $724,473.92. Following the transaction, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,313 shares of company stock worth $1,171,707. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Large investors have recently added to or reduced their stakes in the stock. Spire Wealth Management bought a new stake in Mid-America Apartment Communities during the fourth quarter worth $158,000. CENTRAL TRUST Co boosted its holdings in Mid-America Apartment Communities by 60.0% in the fourth quarter. CENTRAL TRUST Co now owns 4,216 shares of the real estate investment trust’s stock valued at $652,000 after acquiring an additional 1,581 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in shares of Mid-America Apartment Communities by 2.6% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 22,531 shares of the real estate investment trust’s stock valued at $3,483,000 after purchasing an additional 562 shares during the last quarter. Columbus Macro LLC boosted its position in Mid-America Apartment Communities by 441.2% during the fourth quarter. Columbus Macro LLC now owns 45,085 shares of the real estate investment trust’s stock valued at $6,969,000 after acquiring an additional 36,755 shares during the last quarter. Finally, Greenwood Capital Associates LLC boosted its position in shares of Mid-America Apartment Communities by 1.4% during the 4th quarter. Greenwood Capital Associates LLC now owns 51,826 shares of the real estate investment trust’s stock valued at $8,011,000 after purchasing an additional 692 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

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.