Scotiabank Cuts Mid-America Apartment Communities (NYSE:MAA) Price Target to $173.00

Mid-America Apartment Communities (NYSE:MAA) had its price target decreased by Scotiabank from $174.00 to $173.00 in a research report sent to investors on Thursday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on MAA. JMP Securities lifted their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada lowered their target price on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. BNP Paribas started coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective on the stock. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their target price for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $161.64.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $158.09 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a 1-year low of $120.32 and a 1-year high of $167.39. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.54 and a beta of 0.88. The business’s fifty day moving average price is $157.27 and its 200-day moving average price is $148.15.

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

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of large investors have recently modified their holdings of MAA. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $25,000. EdgeRock Capital LLC purchased a new position in shares of Mid-America Apartment Communities in the second quarter worth $26,000. Activest Wealth Management acquired a new stake in shares of Mid-America Apartment Communities during the third quarter worth $32,000. Versant Capital Management Inc grew its holdings in shares of Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 215 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

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.