Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $164.00 at Wells Fargo & Company

Mid-America Apartment Communities (NYSE:MAA) had its target price trimmed by Wells Fargo & Company from $174.00 to $164.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

MAA has been the topic of several other reports. Royal Bank of Canada cut their price objective 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 report on Friday, November 1st. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $159.50 to $168.00 in a research report on Friday. Barclays reduced their target price on Mid-America Apartment Communities from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Mizuho dropped their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $166.00.

Mid-America Apartment Communities Trading Up 1.0 %

NYSE:MAA opened at $148.38 on Friday. Mid-America Apartment Communities has a one year low of $121.51 and a one year high of $167.39. The company’s 50-day simple moving average is $155.13 and its 200 day simple moving average is $154.39. The firm has a market capitalization of $17.34 billion, a P/E ratio of 33.49, a PEG ratio of 2.37 and a beta of 0.91. 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 (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share 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 analysts’ expectations of $548.53 million. During the same quarter in the previous year, the company earned $2.29 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts forecast that Mid-America Apartment Communities will post 8.89 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared 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 is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.08%. Mid-America Apartment Communities’s dividend payout ratio is presently 136.79%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MAA. Pacer Advisors Inc. raised its stake in Mid-America Apartment Communities by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 8,274 shares of the real estate investment trust’s stock worth $1,180,000 after acquiring an additional 365 shares during the period. ProShare Advisors LLC raised its position in shares of Mid-America Apartment Communities by 4.6% during the 2nd quarter. ProShare Advisors LLC now owns 28,958 shares of the real estate investment trust’s stock valued at $4,130,000 after purchasing an additional 1,280 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Mid-America Apartment Communities by 252.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 280 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Mid-America Apartment Communities by 16.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 16,201 shares of the real estate investment trust’s stock worth $2,310,000 after buying an additional 2,230 shares during the period. Finally, Bank of Montreal Can increased its stake in Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after buying an additional 8,984 shares in the last quarter. 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.