Mid-America Apartment Communities Inc. (NYSE:MAA) dropped 1.5% during trading on Thursday . The company traded as low as $106.40 and last traded at $106.40, with a volume of 200,906 shares trading hands. The stock had previously closed at $108.02.

MAA has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “buy” rating and set a $99.00 price target on shares of Mid-America Apartment Communities in a research note on Sunday, June 5th. Zacks Investment Research raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Wednesday, March 16th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $115.00 price target (up previously from $104.00) on shares of Mid-America Apartment Communities in a research note on Wednesday, April 13th. Jefferies Group reduced their price target on Mid-America Apartment Communities from $104.00 to $103.00 and set a “hold” rating on the stock in a research note on Wednesday, June 8th. Finally, Mizuho lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and increased their price target for the stock from $95.00 to $98.00 in a research note on Monday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus target price of $98.39.

The company has a market cap of $8.01 billion and a P/E ratio of 25.43. The company’s 50-day moving average is $103.21 and its 200-day moving average is $97.32.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.09. During the same quarter last year, the firm posted $1.34 EPS. The business earned $269.01 million during the quarter, compared to analyst estimates of $265.26 million. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Mid-America Apartment Communities Inc. will post $5.90 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, July 13th.

Other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Mid-America Apartment Communities by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 947,840 shares of the real estate investment trust’s stock valued at $86,075,000 after buying an additional 25,439 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Mid-America Apartment Communities by 9.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 11,461 shares of the real estate investment trust’s stock valued at $1,041,000 after buying an additional 1,011 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Mid-America Apartment Communities by 5.0% in the fourth quarter. Advisors Asset Management Inc. now owns 84,517 shares of the real estate investment trust’s stock valued at $7,675,000 after buying an additional 4,041 shares during the last quarter. Schroder Investment Management Group boosted its position 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 last quarter. Finally, Principal Financial Group Inc. boosted its position 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 last quarter.

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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