KeyCorp Raises Mid-America Apartment Communities (NYSE:MAA) Price Target to $125.00

Mid-America Apartment Communities (NYSE:MAA) had its price objective raised by KeyCorp from $112.00 to $125.00 in a report published on Wednesday morning, The Fly reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock. KeyCorp also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $6.27 EPS and FY2020 earnings at $6.49 EPS.

Other equities research analysts also recently issued research reports about the company. Mizuho set a $27.00 target price on Horizon Therapeutics and gave the stock a hold rating in a report on Wednesday, May 8th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Monday, May 13th. Royal Bank of Canada set a €475.00 ($552.33) target price on Rational and gave the stock a sell rating in a report on Monday, May 20th. SunTrust Banks lifted their target price on Mid-America Apartment Communities to $120.00 and gave the stock a positive rating in a report on Wednesday, June 19th. They noted that the move was a valuation call. Finally, Raymond James reaffirmed a buy rating on shares of Teck Resources in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Mid-America Apartment Communities currently has a consensus rating of Buy and an average price target of $112.18.

Mid-America Apartment Communities stock opened at $120.70 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.14. Mid-America Apartment Communities has a 52 week low of $91.21 and a 52 week high of $123.88. The firm has a market capitalization of $13.76 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 4.96 and a beta of 0.40. The business’s 50-day moving average price is $117.77.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The firm had revenue of $401.17 million for the quarter, compared to analyst estimates of $400.91 million. During the same period last year, the firm earned $1.36 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that Mid-America Apartment Communities will post 6.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, July 12th. Mid-America Apartment Communities’s payout ratio is presently 63.58%.

In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $109.83, for a total value of $713,895.00. Following the completion of the transaction, the director now directly owns 12,117 shares of the company’s stock, valued at $1,330,810.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Mid-America Apartment Communities by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,833,523 shares of the real estate investment trust’s stock valued at $175,217,000 after acquiring an additional 142,096 shares during the period. Wells Fargo & Company MN lifted its holdings in Mid-America Apartment Communities by 1.4% in the first quarter. Wells Fargo & Company MN now owns 1,476,976 shares of the real estate investment trust’s stock valued at $161,479,000 after acquiring an additional 19,837 shares during the period. FMR LLC lifted its holdings in Mid-America Apartment Communities by 28.2% in the first quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock valued at $147,839,000 after acquiring an additional 297,563 shares during the period. Janus Henderson Group PLC lifted its holdings in Mid-America Apartment Communities by 46.1% in the first quarter. Janus Henderson Group PLC now owns 1,186,322 shares of the real estate investment trust’s stock valued at $129,702,000 after acquiring an additional 374,503 shares during the period. Finally, Norges Bank acquired a new position in Mid-America Apartment Communities in the fourth quarter valued at approximately $105,674,000. 92.47% of the stock is owned by institutional investors.

Mid-America Apartment Communities Company Profile

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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