Mid-America Apartment Communities (NYSE:MAA) Given New $155.00 Price Target at Evercore ISI

Mid-America Apartment Communities (NYSE:MAA) had its price target decreased by Evercore ISI from $163.00 to $155.00 in a report published on Monday,Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on MAA. UBS Group decreased their price target on Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating on the stock in a research report on Tuesday, July 15th. Barclays raised their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. The Goldman Sachs Group lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $165.00 price objective on the stock. in a research note on Friday, July 11th. Robert W. Baird raised their price objective 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. Finally, Scotiabank reduced their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities has an average rating of “Hold” and an average price target of $167.76.

Mid-America Apartment Communities Stock Up 0.0%

Shares of NYSE MAA opened at $140.05 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. Mid-America Apartment Communities has a 52 week low of $138.67 and a 52 week high of $173.38. The stock has a market capitalization of $16.39 billion, a P/E ratio of 28.82, a PEG ratio of 3.59 and a beta of 0.75. The stock’s fifty day moving average is $150.05 and its 200 day moving average is $156.11.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. The company had revenue of $549.90 million for the quarter, compared to analysts’ expectations of $552.19 million. During the same quarter last year, the business earned $2.22 earnings per share. Mid-America Apartment Communities’s revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, July 15th. Mid-America Apartment Communities’s payout ratio is currently 124.69%.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in MAA. Caitong International Asset Management Co. Ltd acquired a new position in shares of Mid-America Apartment Communities in the second quarter worth approximately $26,000. Larson Financial Group LLC increased its holdings in Mid-America Apartment Communities by 107.1% in the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 91 shares in the last quarter. Financial Network Wealth Advisors LLC bought a new stake in Mid-America Apartment Communities in the first quarter worth approximately $29,000. Sound Income Strategies LLC increased its holdings in Mid-America Apartment Communities by 972.2% in the second quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 175 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in Mid-America Apartment Communities in the first quarter worth approximately $34,000. 93.60% of the stock is owned by institutional investors and hedge funds.

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.