Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) has earned a consensus recommendation of "Hold" from the eighteen analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $186.79.
A number of brokerages have weighed in on MAA. Capital One Financial restated an "overweight" rating on shares of Mid-America Apartment Communities in a research report on Wednesday, November 30th. BTIG Research cut their target price on shares of Mid-America Apartment Communities from $225.00 to $175.00 and set a "buy" rating on the stock in a research report on Wednesday, January 11th. UBS Group started coverage on shares of Mid-America Apartment Communities in a research report on Thursday, December 15th. They issued a "sell" rating and a $150.00 target price on the stock. Credit Suisse Group lowered shares of Mid-America Apartment Communities from an "outperform" rating to a "neutral" rating and set a $160.00 price target on the stock. in a report on Monday, January 9th. Finally, Barclays cut their price target on shares of Mid-America Apartment Communities from $215.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, November 10th.
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Insider Buying and Selling
In other Mid-America Apartment Communities news, CFO Albert M. Campbell III sold 883 shares of Mid-America Apartment Communities stock in a transaction on Friday, January 6th. The shares were sold at an average price of $153.85, for a total value of $135,849.55. Following the completion of the sale, the chief financial officer now directly owns 55,826 shares of the company's stock, valued at $8,588,830.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 242 shares of Mid-America Apartment Communities stock in a transaction on Friday, January 6th. The shares were sold at an average price of $153.85, for a total value of $37,231.70. Following the completion of the sale, the executive vice president now directly owns 17,883 shares of the company's stock, valued at $2,751,299.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Albert M. Campbell III sold 883 shares of Mid-America Apartment Communities stock in a transaction on Friday, January 6th. The shares were sold at an average price of $153.85, for a total transaction of $135,849.55. Following the completion of the sale, the chief financial officer now directly owns 55,826 shares of the company's stock, valued at $8,588,830.10. The disclosure for this sale can be found here. Insiders sold 3,383 shares of company stock valued at $528,613 over the last quarter. Insiders own 1.34% of the company's stock.
Institutional Investors Weigh In On Mid-America Apartment Communities
Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Capital Partners LLC increased its position in shares of Mid-America Apartment Communities by 10.0% during the second quarter. Corient Capital Partners LLC now owns 1,611 shares of the real estate investment trust's stock worth $281,000 after acquiring an additional 147 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Mid-America Apartment Communities by 101.6% during the second quarter. Allianz Asset Management GmbH now owns 215,655 shares of the real estate investment trust's stock worth $37,668,000 after purchasing an additional 108,672 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Mid-America Apartment Communities by 57.4% during the second quarter. Illinois Municipal Retirement Fund now owns 107,951 shares of the real estate investment trust's stock worth $18,856,000 after purchasing an additional 39,358 shares during the last quarter. US Bancorp DE boosted its holdings in Mid-America Apartment Communities by 1.9% during the second quarter. US Bancorp DE now owns 9,525 shares of the real estate investment trust's stock worth $1,663,000 after purchasing an additional 182 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Mid-America Apartment Communities by 13.8% during the second quarter. Treasurer of the State of North Carolina now owns 50,158 shares of the real estate investment trust's stock worth $8,761,000 after purchasing an additional 6,064 shares during the last quarter. 91.20% of the stock is owned by institutional investors.
Mid-America Apartment Communities Stock Performance
Shares of Mid-America Apartment Communities stock opened at $161.37 on Wednesday. Mid-America Apartment Communities has a fifty-two week low of $141.13 and a fifty-two week high of $217.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $18.63 billion, a P/E ratio of 29.77, a P/E/G ratio of 8.73 and a beta of 0.75. The company's 50 day moving average price is $158.89 and its two-hundred day moving average price is $163.39.
Mid-America Apartment Communities Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 13th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Thursday, January 12th. This is an increase from Mid-America Apartment Communities's previous quarterly dividend of $1.25. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 103.32%.
About Mid-America Apartment Communities
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Mid-America Apartment Communities (MAA)
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