Brokerages Set Mid-America Apartment Communities Inc (MAA) PT at $103.20

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Mid-America Apartment Communities Inc (NYSE:MAA) has earned a consensus rating of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $103.20.

A number of equities analysts have weighed in on the stock. Scotiabank assumed coverage on shares of Mid-America Apartment Communities in a research report on Tuesday. They issued a “sector perform” rating for the company. Barclays reissued a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Sunday, October 14th. Robert W. Baird reissued a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. SunTrust Banks reissued a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, August 9th. Finally, Stifel Nicolaus cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Thursday, August 2nd.

In other news, Director Russell R. French sold 4,993 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $100.69, for a total transaction of $502,745.17. Following the transaction, the director now owns 17,770 shares of the company’s stock, valued at $1,789,261.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Stockert sold 1,617 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $101.59, for a total transaction of $164,271.03. Following the transaction, the director now directly owns 75,563 shares in the company, valued at approximately $7,676,445.17. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Mid-America Apartment Communities by 1.6% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,497 shares of the real estate investment trust’s stock worth $3,473,000 after purchasing an additional 534 shares during the last quarter. First Allied Advisory Services Inc. lifted its position in shares of Mid-America Apartment Communities by 25.0% during the second quarter. First Allied Advisory Services Inc. now owns 2,782 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 557 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Mid-America Apartment Communities by 5.4% during the second quarter. PNC Financial Services Group Inc. now owns 11,545 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 587 shares during the last quarter. Advisor Partners LLC lifted its position in shares of Mid-America Apartment Communities by 19.2% during the second quarter. Advisor Partners LLC now owns 4,143 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 666 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Mid-America Apartment Communities by 4.4% during the first quarter. Xact Kapitalforvaltning AB now owns 16,529 shares of the real estate investment trust’s stock worth $1,508,000 after purchasing an additional 700 shares during the last quarter. 93.08% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities stock traded up $0.07 during trading on Friday, reaching $98.31. 375 shares of the company’s stock were exchanged, compared to its average volume of 678,446. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.70. Mid-America Apartment Communities has a 52-week low of $85.16 and a 52-week high of $106.77. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.32 and a beta of 0.28.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($1.00). Mid-America Apartment Communities had a return on equity of 5.28% and a net margin of 22.36%. The business had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.62 million. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company posted $1.48 earnings per share. Analysts forecast that Mid-America Apartment Communities will post 6.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be given a $0.9225 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.69 dividend on an annualized basis and a yield of 3.75%. Mid-America Apartment Communities’s payout ratio is currently 62.12%.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.

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Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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