Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $185.00

Mid-America Apartment Communities (NYSE:MAA) had its price target upped by Raymond James from $180.00 to $185.00 in a research note published on Thursday morning,Benzinga reports. They currently have a strong-buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on the company. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $173.00 to $182.00 in a report on Friday, February 14th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and lifted their target price for the stock from $148.00 to $190.00 in a report on Monday, March 10th. Mizuho decreased their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada lifted their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Finally, Barclays lifted their price target on Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $168.90.

Mid-America Apartment Communities Stock Down 0.9 %

MAA opened at $161.19 on Thursday. Mid-America Apartment Communities has a one year low of $123.73 and a one year high of $173.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The stock’s fifty day moving average is $158.21 and its 200-day moving average is $157.47. The company has a market capitalization of $18.84 billion, a PE ratio of 35.98, a P/E/G ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. On average, equities analysts predict that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.76%. Mid-America Apartment Communities’s dividend payout ratio is presently 135.27%.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several large investors have recently made changes to their positions in MAA. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the third quarter valued at about $32,000. CoreCap Advisors LLC increased its stake in Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 112 shares during the period. IFP Advisors Inc increased its stake in Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 68 shares during the period. Quarry LP bought a new position in Mid-America Apartment Communities during the third quarter valued at about $45,000. Finally, Headlands Technologies LLC bought a new position in Mid-America Apartment Communities during the fourth quarter valued at about $46,000. 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.