Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating ) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $193.50.
A number of research analysts have weighed in on MAA shares. Piper Sandler cut their price target on Mid-America Apartment Communities to $185.00 in a research note on Tuesday, November 1st. Jefferies Financial Group decreased their target price on shares of Mid-America Apartment Communities from $210.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. StockNews.com initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, October 12th. They issued a “Hold” rating for the company. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $177.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Friday, October 28th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Mid-America Apartment Communities in a report on Wednesday, November 30th.
Insider activity in Mid-America apartment communities
In other Mid-America Apartment Communities news, Director Monica Hall McGurk sold 921 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $162.01 for a total value of $149,211.21. Following the completion of the sale, the director now owns 835 shares of the company’s stock, valued at approximately $135,278.35. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is accessible through the SEC website. 1.34% of the stock is currently held by corporate insiders.
Institutional Trading of Mid-America Apartment Communities
Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in Mid-America Apartment Communities by 73.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,234 shares of the real estate investment trust’s stock worth $677,000 after purchasing an additional 1,368 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mid-America Apartment Communities by 13.5% during the first quarter. Mirre Asset Global Investments Co. Ltd. now owns 21,271 shares of the real estate investment trust’s stock worth $4,455,000 after acquiring an additional 2,523 shares in the last quarter. Tcwp LLC purchased a new position in Mid-America Apartment Communities in the first quarter valued at approximately $29,000. Aaron Wealth Advisors LLC bought a new stake in Mid-America Apartment Communities during the first quarter worth $157,000. Finally, BI Asset Management Fondsmaglersellschaft AS acquired a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at $187,000. 93.01% of the stock is held by institutional investors and hedge funds.
Mid-America Apartment Communities Price Performance
Shares of NYSE MAA opened at $157.60 on Friday. Mid-America Apartment Communities has a fifty-two week low of $141.13 and a fifty-two week high of $231.63. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 9.56 and a beta of 0.75. 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 business has a 50-day moving average of $156.11 and a 200-day moving average of $165.59.
Mid-America apartment communities reap dividends
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be given a $1.40 dividend. This represents a $5.60 dividend annually and a dividend yield of 3.55%. The ex-dividend date is Thursday, January 12th. This is an increase from Mid-America Apartment Communities’ previous quarterly dividend of $1.25. Mid-America Apartment Communities’ payout ratio is currently 92.25%.
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 the Mid-Atlantic regions of the United States.
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