Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a research note released on Friday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued a neutral rating and a $149.00 price objective on the real estate investment trust’s stock.
Several other research analysts also recently weighed in on MAA. Barclays set a $141.00 target price on Mid-America Apartment Communities and gave the stock a buy rating in a research note on Friday, October 11th. ValuEngine downgraded Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Mizuho boosted their target price on 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. KeyCorp boosted their target price on Mid-America Apartment Communities from $131.00 to $138.00 and gave the stock an overweight rating in a research note on Tuesday, October 8th. Finally, SunTrust Banks boosted their target price on Mid-America Apartment Communities to $130.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $126.75.
Shares of NYSE:MAA traded down $1.27 on Friday, reaching $133.99. The company had a trading volume of 461,365 shares, compared to its average volume of 522,704. Mid-America Apartment Communities has a 52-week low of $91.21 and a 52-week high of $140.15. The firm’s 50 day simple moving average is $133.48 and its 200-day simple moving average is $122.59. The firm 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 has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.72.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $415.63 million for the quarter, compared to analysts’ expectations of $411.16 million. During the same quarter last year, the firm earned $1.50 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Mid-America Apartment Communities will post 6.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis and a yield of 2.87%. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 5,000 shares of Mid-America Apartment Communities stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total transaction of $682,300.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. First Financial Corp IN acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $27,000. Johnson Financial Group Inc. acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $29,000. JJJ Advisors Inc. acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $31,000. Parallel Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 38.2% in the 3rd quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 73 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Mid-America Apartment Communities by 193.3% in 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 buying an additional 201 shares during the period. 93.19% of the stock is owned by 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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