Mid-America Apartment Communities (NYSE:MAA) Given New $140.00 Price Target at UBS Group

Mid-America Apartment Communities (NYSE:MAA) had its price target increased by UBS Group from $131.00 to $140.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a sell rating on the real estate investment trust’s stock.

MAA has been the topic of several other reports. Scotiabank lifted their target price on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a sector perform rating in a research note on Tuesday, May 14th. Piper Sandler reissued a neutral rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Wedbush raised shares of Mid-America Apartment Communities from a neutral rating to an outperform rating and boosted their price objective for the company from $135.00 to $154.00 in a research report on Monday, May 6th. Mizuho boosted their price objective on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a neutral rating in a research report on Thursday, May 30th. Finally, Morgan Stanley boosted their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an equal weight rating in a research report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $141.59.

Mid-America Apartment Communities Stock Down 0.8 %

Shares of NYSE MAA opened at $143.70 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $156.28. The firm’s fifty day moving average is $138.25 and its 200 day moving average is $132.87. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 3.20 and a beta of 0.85.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. During the same period in the previous year, the firm earned $2.28 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Mid-America Apartment Communities will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 annualized dividend and a dividend yield of 4.09%. Mid-America Apartment Communities’s payout ratio is 123.27%.

Institutional Trading of Mid-America Apartment Communities

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Mid-America Apartment Communities by 323.8% during the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock valued at $5,430,000 after purchasing an additional 30,855 shares during the last quarter. Perpetual Ltd purchased a new stake in Mid-America Apartment Communities during the 1st quarter valued at about $15,413,000. Nordea Investment Management AB grew its position in Mid-America Apartment Communities by 9.2% during the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after purchasing an additional 13,045 shares during the last quarter. Miller Howard Investments Inc. NY grew its position in Mid-America Apartment Communities by 9.9% during the 1st quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock valued at $25,984,000 after purchasing an additional 17,765 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Mid-America Apartment Communities by 163.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after purchasing an additional 13,474 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

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.