Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $135.00 at Citigroup

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Mid-America Apartment Communities (NYSE:MAA) had its price target raised by Citigroup from $120.00 to $135.00 in a research note released on Thursday, Stock Target Advisor reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on MAA. SunTrust Banks lifted their target price on shares of Mid-America Apartment Communities to $130.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Mizuho lifted their target price on shares of Mid-America Apartment Communities from $132.00 to $145.00 and gave the stock a buy rating in a research note on Thursday, October 31st. Barclays set a $141.00 target price on shares of Mid-America Apartment Communities and gave the stock a buy rating in a research note on Friday, October 11th. Capital One Financial raised shares of Mid-America Apartment Communities from an equal weight rating to an overweight rating in a research note on Monday, November 4th. Finally, ValuEngine cut shares of Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $126.75.

NYSE MAA traded down $1.27 on Thursday, hitting $133.99. The company had a trading volume of 461,365 shares, compared to its average volume of 522,704. The company has a market capitalization of $15.47 billion, a PE ratio of 22.18, a PEG ratio of 5.38 and a beta of 0.33. The company’s fifty day moving average price is $133.48 and its 200-day moving average price is $122.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.08 and a quick ratio of 0.08. Mid-America Apartment Communities has a 12-month low of $91.21 and a 12-month high of $140.15.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a return on equity of 3.84% and a net margin of 16.25%. The company had revenue of $415.63 million during the quarter, compared to analysts’ expectations of $411.16 million. During the same period in the previous year, the firm posted $1.50 EPS. Mid-America Apartment Communities’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities will post 6.46 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.96 per share. The ex-dividend date was Friday, October 11th. This represents a $3.84 annualized dividend and a dividend yield of 2.87%. Mid-America Apartment Communities’s payout ratio is 63.58%.

In other news, Director David P. Stockert sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $136.46, for a total transaction of $682,300.00. Following the transaction, the director now owns 68,778 shares of the company’s stock, valued at approximately $9,385,445.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. First Financial Corp IN acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $27,000. Johnson Financial Group Inc. acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $29,000. JJJ Advisors Inc. acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $31,000. Parallel Advisors LLC boosted its position in shares of Mid-America Apartment Communities by 38.2% during the 3rd quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 73 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Mid-America Apartment Communities by 193.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. 93.19% of the stock is currently owned by hedge funds and other institutional investors.

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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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

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