Mid-America Apartment Communities (NYSE:MAA) Cut to “Underperform” at Wolfe Research

Wolfe Research lowered shares of Mid-America Apartment Communities (NYSE:MAA – Get Rating) from a peer perform rating to an underperform rating in a report published on Monday, The Fly reports. They currently have $137.00 price objective on the real estate investment trust’s stock.

A number of other analysts have also commented on the company. Wells Fargo & Company began coverage on Mid-America Apartment Communities in a report on Wednesday, March 29th. They set an equal weight rating and a $156.50 price target on the stock. Barclays increased their price target on shares of Mid-America Apartment Communities from $185.00 to $192.00 and gave the company an overweight rating in a research report on Wednesday, March 1st. 888 reaffirmed a maintains rating on shares of Mid-America Apartment Communities in a research report on Friday, April 28th. Scotiabank downgraded shares of Mid-America Apartment Communities from a sector perform rating to a sector underperform rating and set a $150.00 target price for the company. in a research report on Wednesday, April 12th. Finally, Mizuho lifted their price target on shares of Mid-America Apartment Communities from $175.00 to $176.00 and gave the stock a neutral rating in a report on Thursday, February 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $170.43.

Mid-America Apartment Communities Trading Down 0.7 %

NYSE:MAA opened at $152.28 on Monday. Mid-America Apartment Communities has a 52 week low of $138.68 and a 52 week high of $190.17. The firm has a 50-day moving average price of $149.37 and a two-hundred day moving average price of $156.79. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 8.31 and a beta of 0.77.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were given a dividend of $1.40 per share. The ex-dividend date was Thursday, April 13th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. This represents a $5.60 annualized dividend and a dividend yield of 3.68%. Mid-America Apartment Communities’s dividend payout ratio is currently 98.25%.

Insider Activity

In related news, EVP Melanie Carpenter sold 480 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $150.21, for a total transaction of $72,100.80. Following the sale, the executive vice president now owns 16,669 shares of the company’s stock, valued at approximately $2,503,850.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mid-America Apartment Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $543,026,000. Cohen & Steers Inc. grew its stake in Mid-America Apartment Communities by 45.0% in the 3rd quarter. Cohen & Steers Inc. now owns 5,889,416 shares of the real estate investment trust’s stock worth $913,212,000 after buying an additional 1,827,696 shares in the last quarter. Morgan Stanley increased its holdings in shares of Mid-America Apartment Communities by 63.3% in the 4th quarter. Morgan Stanley now owns 2,208,337 shares of the real estate investment trust’s stock worth $346,687,000 after buying an additional 856,331 shares during the last quarter. Centersquare Investment Management LLC raised its position in shares of Mid-America Apartment Communities by 76.9% during the 1st quarter. Centersquare Investment Management LLC now owns 1,347,471 shares of the real estate investment trust’s stock valued at $282,228,000 after buying an additional 585,804 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Mid-America Apartment Communities by 26.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,177,922 shares of the real estate investment trust’s stock worth $341,912,000 after acquiring an additional 459,097 shares during the last quarter. 91.20% of the stock is currently owned by hedge funds and other institutional investors.

About Mid-America Apartment Communities

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Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.