Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $131.00 at UBS Group

Mid-America Apartment Communities (NYSE:MAAFree Report) had its target price increased by UBS Group from $126.00 to $131.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a sell rating on the real estate investment trust’s stock.

MAA has been the topic of a number of other reports. Royal Bank of Canada reissued a sector perform rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Truist Financial dropped their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a buy rating on the stock in a research report on Tuesday, April 9th. Mizuho dropped their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a neutral rating on the stock in a research report on Wednesday, February 28th. Scotiabank upgraded shares of Mid-America Apartment Communities from a sector underperform rating to a sector perform rating and upped their target price for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a hold rating and a $139.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $143.28.

Read Our Latest Stock Analysis on MAA

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $136.82 on Tuesday. Mid-America Apartment Communities has a fifty-two week low of $115.56 and a fifty-two week high of $158.46. The firm’s 50 day moving average price is $130.76 and its 200 day moving average price is $128.96. The company has a market cap of $15.98 billion, a P/E ratio of 28.68, a PEG ratio of 3.57 and a beta of 0.80. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. During the same period in the previous year, the company earned $2.28 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts forecast that Mid-America Apartment Communities will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 123.27%.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 2,807 shares of company stock valued at $353,955 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

Hedge funds and other institutional investors have recently made changes to their positions in the company. First United Bank & Trust purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at about $27,000. DecisionPoint Financial LLC acquired a new stake in shares of Mid-America Apartment Communities in the first quarter valued at about $26,000. Mather Group LLC. acquired a new stake in shares of Mid-America Apartment Communities in the first quarter valued at about $32,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at about $35,000. Finally, CVA Family Office LLC acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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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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