Mid-America Apartment Communities (NYSE:MAA) Rating Reiterated by Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a report released on Tuesday morning, Benzinga reports. They currently have a $140.00 target price on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on MAA. Morgan Stanley boosted their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an equal weight rating in a research note on Monday, February 26th. Truist Financial upgraded Mid-America Apartment Communities from a hold rating to a buy rating and boosted their price target for the company from $154.00 to $158.00 in a report on Tuesday, January 16th. The Goldman Sachs Group reiterated a buy rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Scotiabank upgraded Mid-America Apartment Communities from a sector underperform rating to a sector perform rating and upped their target price for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Finally, Jefferies Financial Group reiterated a hold rating and set a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $143.76.

Mid-America Apartment Communities Trading Up 0.6 %

MAA stock opened at $131.58 on Tuesday. The company has a market cap of $15.36 billion, a P/E ratio of 27.94, a PEG ratio of 4.18 and a beta of 0.80. Mid-America Apartment Communities has a twelve month low of $115.56 and a twelve month high of $158.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $129.13 and a 200-day moving average of $129.12.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The firm had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. During the same quarter in the previous year, the firm earned $2.32 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Mid-America Apartment Communities will post 8.95 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the sale, the chief executive officer now directly owns 304,523 shares in the company, valued at approximately $39,651,939.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 371 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $131.33, for a total transaction of $48,723.43. Following the transaction, the executive vice president now owns 19,067 shares of the company’s stock, valued at approximately $2,504,069.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total transaction of $524,485.88. Following the completion of the sale, the chief executive officer now directly owns 304,523 shares in the company, valued at approximately $39,651,939.83. The disclosure for this sale can be found here. Company insiders own 1.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAA. Norges Bank purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at $713,500,000. JPMorgan Chase & Co. grew its position in Mid-America Apartment Communities by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock worth $491,036,000 after acquiring an additional 956,154 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Mid-America Apartment Communities by 188.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock worth $195,179,000 after purchasing an additional 949,171 shares during the last quarter. Morgan Stanley lifted its stake in Mid-America Apartment Communities by 63.3% in the fourth quarter. Morgan Stanley now owns 2,208,337 shares of the real estate investment trust’s stock worth $346,687,000 after purchasing an additional 856,331 shares during the last quarter. Finally, Blackstone Inc. lifted its stake in Mid-America Apartment Communities by 51.8% in the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after purchasing an additional 697,200 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

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.