Mid-America Apartment Communities Inc. (NYSE:MAA) shares dropped 0.7% during trading on Friday . The stock traded as low as $107.55 and last traded at $107.74, with a volume of 293,623 shares traded. The stock had previously closed at $108.49.

MAA has been the subject of several recent analyst reports. Zacks Investment Research upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Wednesday, April 6th. BMO Capital Markets restated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, May 4th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, May 5th. Cantor Fitzgerald restated a “buy” rating and set a $99.00 target price on shares of Mid-America Apartment Communities in a research report on Sunday, June 5th. Finally, Jefferies Group lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $104.00 target price for the company. in a research report on Friday, April 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $98.39.

The company has a 50-day moving average price of $102.38 and a 200 day moving average price of $96.88. The firm has a market capitalization of $8.16 billion and a P/E ratio of 25.90.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be issued a $0.82 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $3.28 dividend on an annualized basis and a yield of 3.04%.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in 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 period. Schroder Investment Management Group boosted its stake in 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 period. First Trust Advisors LP boosted its stake in 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 period. Principal Financial Group Inc. boosted its stake in 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 period. Finally, Wells Fargo & Company MN boosted its stake 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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