Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $159.00 at Mizuho

Mid-America Apartment Communities (NYSE:MAA) had its target price cut by Mizuho from $163.00 to $159.00 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.

MAA has been the topic of a number of other research reports. Scotiabank decreased their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Barclays started coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 price objective for the company. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target on the stock in a research report on Tuesday, December 17th. Finally, BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $166.92.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $149.29 on Monday. The business’s fifty day moving average is $156.72 and its two-hundred day moving average is $153.74. The stock has a market capitalization of $17.45 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.53 and a beta of 0.91. Mid-America Apartment Communities has a 1 year low of $121.51 and a 1 year high of $167.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. On average, research analysts forecast that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $1.515 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 4.06%. Mid-America Apartment Communities’s payout ratio is 136.79%.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in Mid-America Apartment Communities in the third quarter worth approximately $25,000. Activest Wealth Management acquired a new position in shares of Mid-America Apartment Communities during the third quarter valued at approximately $32,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $37,000. Quarry LP acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $45,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 252.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.