Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) – Stock analysts at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for Mid-America Apartment Communities in a research note issued on Tuesday, February 6th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will earn $2.27 per share for the quarter, up from their previous forecast of $2.26. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $9.15 per share. Zacks Research also issued estimates for Mid-America Apartment Communities’ FY2024 earnings at $9.07 EPS and FY2025 earnings at $9.36 EPS.
Several other analysts also recently weighed in on the company. Morgan Stanley assumed coverage on Mid-America Apartment Communities in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $128.00 price objective for the company. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Mizuho upped their price target on shares of Mid-America Apartment Communities from $124.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target for the company. Finally, Colliers Securities upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 price target on the stock in a report on Tuesday, November 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $145.84.
Mid-America Apartment Communities Price Performance
Shares of MAA stock opened at $125.18 on Thursday. Mid-America Apartment Communities has a twelve month low of $115.56 and a twelve month high of $176.36. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $131.52 and a two-hundred day simple moving average of $133.16. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 4.69 and a beta of 0.81.
Hedge Funds Weigh In On Mid-America Apartment Communities
Several hedge funds and other institutional investors have recently modified their holdings of MAA. Cullen Frost Bankers Inc. acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $35,000. ST Germain D J Co. Inc. acquired a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth $36,000. First Financial Corp IN grew its holdings in shares of Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 86 shares during the period. CVA Family Office LLC purchased a new position in Mid-America Apartment Communities during the fourth quarter worth about $40,000. Finally, Emfo LLC acquired a new position in Mid-America Apartment Communities in the 4th quarter valued at about $40,000. 93.42% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the transaction, the chief executive officer now directly owns 304,523 shares in the company, valued at approximately $39,651,939.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $131.33, for a total transaction of $48,723.43. Following the completion of the sale, the executive vice president now directly owns 19,067 shares in the company, valued at approximately $2,504,069.11. The transaction was disclosed in a document filed 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 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 $39,651,939.83. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
Mid-America Apartment Communities Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.70%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. The ex-dividend date was Thursday, January 11th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 117.37%.
About Mid-America Apartment Communities
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.
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