Royal Bank of Canada Issues Pessimistic Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA) had its price objective cut by Royal Bank of Canada from $169.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. 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 target price for the company. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Piper Sandler upped their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped 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 report on Tuesday, September 10th. Finally, UBS Group upped their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.69.

Mid-America Apartment Communities Stock Performance

NYSE:MAA traded down $2.17 during mid-day trading on Friday, reaching $149.17. The company’s stock had a trading volume of 1,027,700 shares, compared to its average volume of 755,354. Mid-America Apartment Communities has a 12-month low of $118.68 and a 12-month high of $167.39. The firm’s fifty day moving average price is $158.10 and its two-hundred day moving average price is $145.93. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a market cap of $17.43 billion, a P/E ratio of 33.67, a PEG ratio of 2.45 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.34% and a net margin of 23.84%. The business had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same period last year, the firm posted $2.29 EPS. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

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. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.94%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at approximately $26,000. Versant Capital Management Inc lifted its position in Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 215 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Mid-America Apartment Communities in the third quarter worth $37,000. UMB Bank n.a. lifted its position in Mid-America Apartment Communities by 82.4% in the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in Mid-America Apartment Communities by 305.1% in the second quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 238 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

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.