Mid-America Apartment Communities (NYSE:MAA) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a hold rating to a sell rating in a research report report published on Friday morning.

MAA has been the subject of several other reports. Scotiabank lowered their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, June 13th. Mizuho lowered their price objective on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Barclays boosted their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Truist Financial lowered their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. Finally, Robert W. Baird lifted their target price on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus price target of $169.76.

Mid-America Apartment Communities Stock Up 0.2%

Shares of Mid-America Apartment Communities stock opened at $147.68 on Friday. The business has a 50-day moving average of $155.68 and a 200-day moving average of $156.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $17.29 billion, a PE ratio of 30.77, a P/E/G ratio of 3.77 and a beta of 0.78. Mid-America Apartment Communities has a 1-year low of $137.51 and a 1-year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The company had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $2.22 earnings per share. As a group, equities analysts forecast that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.10%. Mid-America Apartment Communities’s payout ratio is 126.25%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MAA. Norges Bank bought a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at $826,562,000. Capital World Investors increased its holdings in shares of Mid-America Apartment Communities by 45.9% in the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock valued at $1,025,868,000 after buying an additional 2,088,143 shares in the last quarter. Deutsche Bank AG raised its stake in Mid-America Apartment Communities by 312.6% during the 4th quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock valued at $189,507,000 after purchasing an additional 928,851 shares during the period. Nuveen LLC acquired a new stake in Mid-America Apartment Communities during the 1st quarter valued at $150,966,000. Finally, JPMorgan Chase & Co. raised its stake in Mid-America Apartment Communities by 26.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock valued at $517,015,000 after purchasing an additional 708,125 shares during the period. Institutional investors own 93.60% of the company’s stock.

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.