Mid-America Apartment Communities (NYSE:MAA) Now Covered by Barclays

Barclays started coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $166.00 target price on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on MAA. Truist Financial raised their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price for the company in a research note on Monday, October 21st. Piper Sandler upped their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Scotiabank lowered their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reduced their target price on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $163.76.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA opened at $156.07 on Tuesday. The firm has a 50 day moving average of $156.93 and a 200 day moving average of $152.08. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $18.24 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. Mid-America Apartment Communities has a 52 week low of $121.51 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 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 company had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same period in the previous year, the firm posted $2.29 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts predict that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 3.88%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio is currently 136.79%.

Hedge Funds Weigh In On Mid-America Apartment Communities

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities during the third quarter valued at $25,000. EdgeRock Capital LLC purchased a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $26,000. Activest Wealth Management acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth about $32,000. UMB Bank n.a. boosted its position in Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $37,000. 93.60% of the stock is owned by hedge funds and other 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.