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

MAA has been the subject of several recent analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $99.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, June 5th. Jefferies Group downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $104.00 price target for the company. in a report on Friday, April 22nd. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a report on Wednesday, April 27th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $115.00 price target (up from $104.00) on shares of Mid-America Apartment Communities in a report on Wednesday, April 13th. Finally, Mizuho downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and upped their price target for the stock from $95.00 to $98.00 in a report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $99.39.

The stock has a market cap of $7.96 billion and a price-to-earnings ratio of 25.26. The company’s 50 day moving average price is $103.34 and its 200 day moving average price is $97.42.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.09. The firm earned $269.01 million during the quarter, compared to the consensus estimate of $265.26 million. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 earnings per share. Equities analysts expect that Mid-America Apartment Communities Inc. will post $5.91 EPS for the current fiscal year.

The company also recently declared 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. This represents a $3.28 annualized dividend and a yield of 3.11%. The ex-dividend date is Wednesday, July 13th.

Several hedge funds recently bought and sold shares of MAA. Vanguard Group Inc. increased 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 worth $976,669,000 after buying an additional 295,225 shares in the last quarter. Dimensional Fund Advisors LP increased its stake 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 worth $86,075,000 after buying an additional 25,439 shares in the last quarter. Schroder Investment Management Group increased 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 worth $59,035,000 after buying an additional 217,861 shares in the last quarter. Principal Financial Group Inc. increased 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 worth $56,343,000 after buying an additional 68,433 shares in the last quarter. Finally, Wells Fargo & Company MN increased 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 worth $12,854,000 after buying an additional 58,636 shares in 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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