Mid-America Apartment Communities, Inc. has received a consensus rating of “Moderate Buy”. (NYSE:MAA – Get Rating) from the eighteen analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $193.50.
A number of research analysts have weighed in on MAA shares. Piper Sandler lowered their price target on Mid-America Apartment Communities to $185.00 in a research note on Tuesday, November 1st. Jefferies Financial Group lowered their target price on shares of Mid-America Apartment Community from $210.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. StockNews.com began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, October 12th. They issued a “hold” rating to the company. Royal Bank of Canada lowered their price objective on shares of Mid-America Apartment Communities from $177.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Friday, October 28th. Finally, Capital One Financial reiterated an “overweight” rating on shares of Mid-America Apartment Communities in a report on Wednesday, November 30th.
Insider Activity at Mid-America Apartment Communities
In other Mid-America Apartment Communities news, Director Monica Houle Mcgurk sold 921 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $162.01, for a total value of $149,211.21. Following the completion of the sale, the director now owns 835 shares of the company’s stock, valued at approximately $135,278.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible on the SEC’s website. 1.34% of the stock is currently owned by insiders.
Institutional Trading of Mid-America Apartment Communities
Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in the Mid-America Apartment Community by 73.3% during the first quarter. Northwestern Mutual Wealth Management Co. owns now owns 3,234 shares of the real estate investment trust’s stock worth $677,000 after purchasing an additional 1,368 shares during the period. Mirae Asset Global Investments Co Ltd increased. its position in shares of Mid-America Apartment Communities by 13.5% during the 1st quarter. Mirae Asset Global Investments Co. owns Ltd. now owns 21,271 shares of the real estate investment trust’s stock worth $4,455,000 after acquiring an additional 2,523 shares in the last quarter. Tcwp LLC bought a new position in Mid-America Apartment Community in the first quarter valued at about $29,000. Aaron Wealth Advisors LLC bought a new stake in Mid-America Apartment Community during the first quarter worth $157,000. Finally, BI Asset Management Fondsmaeglerselskab AS acquired a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at $187,000. Institutional investors and hedge funds own 93.01% of the stock.
Price Performance of Mid-America Apartment Communities
Shares of NYSE MAA opened at $157.60 on Friday. It has a fifty-two week low of $141.13 and a fifty-two week high of $231.63. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 9.56 and a beta of 0.75. The company has a debt to equity ratio of 0.73, a current ratio of 0.08 and a quick ratio of 0.08. The business has a 50-day moving average of $156.11 and a 200-day moving average of $165.59.
Mid-America Apartment Communities Dividend Increases
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be given a $1.40 dividend. This equates to a dividend of $5.60 on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Thursday, January 12. This is a boost from Mid-America Apartment Communities’ previous quarterly dividend of $1.25. Mid-America Apartment Communities currently has a payout ratio of 92.25%.
About Mid-America Apartment Communities
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MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering total and superior investment performance to shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and regions Mid-Atlantic United States.
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