Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $153.00 by Analysts at Piper Sandler

Mid-America Apartment Communities (NYSE:MAA) had its price objective cut by Piper Sandler from $170.00 to $153.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the stock. Evercore ISI dropped their target price on shares of Mid-America Apartment Communities from $163.00 to $155.00 and set an “in-line” rating on the stock in a research report on Monday. JMP Securities boosted their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, May 22nd. UBS Group lowered their price target on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating on the stock in a report on Tuesday, July 15th. Barclays boosted their price target on shares of 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. Finally, Truist Financial lowered their price target on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and an average target price of $167.76.

Mid-America Apartment Communities Trading Up 0.0%

Shares of MAA stock opened at $140.05 on Monday. Mid-America Apartment Communities has a 1 year low of $138.67 and a 1 year high of $173.38. The firm’s fifty day simple moving average is $150.05 and its 200 day simple moving average is $156.11. The firm has a market capitalization of $16.39 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 3.59 and a beta of 0.75. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The business had revenue of $549.90 million for the quarter, compared to analyst estimates of $552.19 million. During the same quarter in the previous year, the firm posted $2.22 earnings per share. Mid-America Apartment Communities’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAM Holding AG acquired a new position in Mid-America Apartment Communities during the 2nd quarter worth about $1,222,000. Wolverine Asset Management LLC acquired a new position in Mid-America Apartment Communities during the 2nd quarter worth about $1,157,000. Atria Investments Inc lifted its position in Mid-America Apartment Communities by 48.2% during the 2nd quarter. Atria Investments Inc now owns 5,709 shares of the real estate investment trust’s stock worth $845,000 after buying an additional 1,856 shares in the last quarter. Assetmark Inc. lifted its position in Mid-America Apartment Communities by 45.4% during the 2nd quarter. Assetmark Inc. now owns 9,004 shares of the real estate investment trust’s stock worth $1,333,000 after buying an additional 2,813 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its position in Mid-America Apartment Communities by 1.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,518 shares of the real estate investment trust’s stock worth $669,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds 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.