Mid-America Apartment Communities, Inc. (NYSE:MAA) Receives $168.90 Average Price Target from Brokerages

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) have been assigned an average rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $168.90.

A number of brokerages have recently issued reports on MAA. Evercore ISI lifted their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Truist Financial lifted their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $173.00 to $182.00 in a research note on Friday, February 14th. Raymond James raised their price objective on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 20th. Finally, Royal Bank of Canada lifted their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th.

Mid-America Apartment Communities Stock Down 0.3 %

Shares of NYSE:MAA opened at $163.19 on Friday. The firm has a fifty day moving average price of $158.72 and a two-hundred day moving average price of $157.48. The company has a market cap of $19.08 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 3.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. Mid-America Apartment Communities has a one year low of $123.73 and a one year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (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%. Analysts anticipate that Mid-America Apartment Communities will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 3.71%. Mid-America Apartment Communities’s payout ratio is currently 135.27%.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of hedge funds have recently modified their holdings of the company. Inspire Investing LLC grew its stake in shares of Mid-America Apartment Communities by 0.9% in the fourth quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust’s stock worth $1,233,000 after purchasing an additional 68 shares during the last quarter. IFP Advisors Inc lifted its holdings in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 68 shares during the period. Sanctuary Advisors LLC lifted its holdings in Mid-America Apartment Communities by 0.6% in the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock worth $1,704,000 after buying an additional 69 shares during the period. Huntington National Bank grew its position in shares of Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 70 shares during the last quarter. Finally, Chesley Taft & Associates LLC increased its stake in shares of Mid-America Apartment Communities by 1.6% during the fourth quarter. Chesley Taft & Associates LLC now owns 4,828 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

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.