Mid-America Apartment Communities Inc. (NYSE:MAA) shares shot up 1.3% on Tuesday . The company traded as high as $108.98 and last traded at $108.77, with a volume of 174,472 shares changing hands. The stock had previously closed at $107.33.

MAA has been the topic of a number of analyst reports. Zacks Investment Research upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a report on Wednesday. BMO Capital Markets reiterated a “buy” rating on shares of Mid-America Apartment Communities in a report on Wednesday, May 4th. Jefferies Group restated a “hold” rating and set a $104.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, May 5th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, May 5th. Finally, Mizuho downgraded Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $95.00 to $98.00 in a research note on Monday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average target price of $97.32.

The stock’s 50-day moving average is $101.85 and its 200 day moving average is $96.66. The company has a market capitalization of $8.28 billion and a price-to-earnings ratio of 26.29.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. The company earned $269.01 million during the quarter, compared to analyst estimates of $265.26 million. During the same quarter in the previous year, the business posted $1.34 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Mid-America Apartment Communities Inc. will post $5.90 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Wednesday, July 13th.

Other hedge funds recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Mid-America Apartment Communities by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 10,755,085 shares of the real estate investment trust’s stock valued at $976,669,000 after buying an additional 295,225 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Mid-America Apartment Communities by 50.4% in the fourth quarter. Schroder Investment Management Group now owns 650,090 shares of the real estate investment trust’s stock valued at $59,035,000 after buying an additional 217,861 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Mid-America Apartment Communities by 172.9% in the fourth quarter. First Trust Advisors LP now owns 133,505 shares of the real estate investment trust’s stock valued at $12,124,000 after buying an additional 84,578 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Mid-America Apartment Communities by 12.4% in the fourth quarter. Principal Financial Group Inc. now owns 620,448 shares of the real estate investment trust’s stock valued at $56,343,000 after buying an additional 68,433 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Mid-America Apartment Communities by 70.7% in the fourth quarter. Wells Fargo & Company MN now owns 141,552 shares of the real estate investment trust’s stock valued at $12,854,000 after buying an additional 58,636 shares during the period.

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed Real Estate Investment Trust (REIT). The Company is the general partner of Mid-America Apartments, L.P. The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States.

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