Mid-America Apartment Communities (NYSE:MAA) Sets New 52-Week Low on Analyst Downgrade

Mid-America Apartment Communities, Inc. (NYSE:MAA)’s share price hit a new 52-week low during trading on Monday after Evercore ISI lowered their price target on the stock from $153.00 to $144.00. Evercore ISI currently has an in-line rating on the stock. Mid-America Apartment Communities traded as low as $125.75 and last traded at $126.5420, with a volume of 136179 shares. The stock had previously closed at $128.23.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $150.00 price target on the stock. Wall Street Zen cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Sunday, October 26th. Barclays dropped their price target on shares of Mid-America Apartment Communities from $156.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 30th. UBS Group dropped 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 research report on Tuesday, July 15th. Finally, The Goldman Sachs Group cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research report on Friday, July 11th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $159.78.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. acquired 578 shares of the business’s stock in a transaction on Friday, October 31st. The shares were purchased at an average price of $129.36 per share, for a total transaction of $74,770.08. Following the acquisition, the chief executive officer owned 320,391 shares in the company, valued at approximately $41,445,779.76. This represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently bought and sold shares of MAA. Norges Bank purchased a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $795,893,000. Nuveen LLC purchased a new position in Mid-America Apartment Communities during the 1st quarter valued at about $150,966,000. Daiwa Securities Group Inc. grew its stake in Mid-America Apartment Communities by 461.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 721,418 shares of the real estate investment trust’s stock valued at $106,777,000 after acquiring an additional 593,020 shares in the last quarter. Deutsche Bank AG grew its stake in Mid-America Apartment Communities by 38.3% during the 1st quarter. Deutsche Bank AG now owns 1,695,832 shares of the real estate investment trust’s stock valued at $284,188,000 after acquiring an additional 469,806 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Mid-America Apartment Communities by 30.6% during the 2nd quarter. Invesco Ltd. now owns 1,835,408 shares of the real estate investment trust’s stock valued at $271,659,000 after acquiring an additional 430,398 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Down 0.6%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. The company has a 50 day simple moving average of $137.86 and a two-hundred day simple moving average of $146.69. The company has a market cap of $14.93 billion, a PE ratio of 27.01, a PEG ratio of 3.38 and a beta of 0.77.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.01). Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.10%. The business had revenue of $554.37 million for the quarter, compared to analysts’ expectations of $557.22 million. During the same period last year, the firm earned $2.21 EPS. The company’s revenue was up .6% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. Sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 15th were paid a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, October 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 128.39%.

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.