Mizuho Raises Mid-America Apartment Communities (NYSE:MAA) Price Target to $130.00

Mid-America Apartment Communities (NYSE:MAAFree Report) had its target price raised by Mizuho from $126.00 to $130.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on MAA. Truist Financial lowered their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a buy rating for the company in a report on Tuesday, April 9th. UBS Group raised their price target on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a sell rating in a report on Tuesday, May 14th. Piper Sandler reiterated a neutral rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Morgan Stanley raised their target price on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an equal weight rating in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group reaffirmed a buy rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $141.47.

Read Our Latest Analysis on MAA

Mid-America Apartment Communities Price Performance

Shares of MAA stock opened at $133.71 on Thursday. Mid-America Apartment Communities has a twelve month low of $115.56 and a twelve month high of $158.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $131.38 and a two-hundred day simple moving average of $130.13. The stock has a market capitalization of $15.62 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 2.89 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The business had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. On average, analysts predict that Mid-America Apartment Communities will post 8.87 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, July 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.40%. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,807 shares of company stock worth $353,955 over the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DecisionPoint Financial LLC acquired a new position in Mid-America Apartment Communities during the first quarter valued at $26,000. First United Bank & Trust acquired a new position in shares of Mid-America Apartment Communities in the fourth quarter worth about $27,000. Mather Group LLC. acquired a new position in shares of Mid-America Apartment Communities in the first quarter worth about $32,000. First Financial Corp IN raised its position in shares of Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 86 shares during the period. Finally, CVA Family Office LLC acquired a new position in shares of Mid-America Apartment Communities in the fourth quarter worth about $40,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

(Get Free Report)

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily 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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