Mid-America Apartment Communities’ (MAA) Buy Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their buy rating on shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in a research report released on Monday. They currently have a $110.00 target price on the real estate investment trust’s stock.

“Markets with improving fundamentals in 2018 could include Austin, Charleston, Charlotte, Houston, Nashville, Raleigh, Tampa and Washington, D.C.; markets that could have moderating fundamentals include Atlanta, Dallas-Ft. Worth, Jacksonville, Orlando and Phoenix (based on jobs/ completions).”,” Cantor Fitzgerald’s analyst wrote.

Several other analysts have also issued reports on the stock. Robert W. Baird restated a buy rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a report on Friday. Mizuho restated a hold rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a report on Monday, November 6th. Royal Bank Of Canada restated a buy rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. SunTrust Banks, Inc. restated a buy rating and issued a $109.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of Mid-America Apartment Communities from $113.00 to $100.00 and set a hold rating on the stock in a report on Friday, October 27th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $110.33.

Shares of Mid-America Apartment Communities (NYSE MAA) traded up $0.56 on Monday, reaching $106.03. 583,000 shares of the company traded hands, compared to its average volume of 672,696. The stock has a market cap of $11,870.00, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.55 and a beta of 0.35. Mid-America Apartment Communities has a 12-month low of $87.59 and a 12-month high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.61. The firm had revenue of $384.60 million for the quarter, compared to analyst estimates of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. Mid-America Apartment Communities’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. equities analysts predict that Mid-America Apartment Communities will post 5.91 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.28%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 156.76%.

In related news, Director William Reid Sanders acquired 7,000 shares of the stock in a transaction dated Friday, October 27th. The stock was acquired at an average cost of $100.11 per share, with a total value of $700,770.00. Following the completion of the transaction, the director now owns 8,209 shares in the company, valued at approximately $821,802.99. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David P. Stockert sold 6,872 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total value of $730,768.48. Following the transaction, the director now directly owns 77,180 shares of the company’s stock, valued at $8,207,321.20. The disclosure for this sale can be found here. 1.25% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. ING Groep NV grew its position in shares of Mid-America Apartment Communities by 0.4% during the second quarter. ING Groep NV now owns 5,816 shares of the real estate investment trust’s stock worth $613,000 after buying an additional 22 shares in the last quarter. BB&T Corp grew its position in shares of Mid-America Apartment Communities by 0.9% during the second quarter. BB&T Corp now owns 5,314 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 47 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Mid-America Apartment Communities by 0.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,677 shares of the real estate investment trust’s stock worth $809,000 after buying an additional 58 shares in the last quarter. Advisor Partners LLC grew its position in shares of Mid-America Apartment Communities by 1.7% during the second quarter. Advisor Partners LLC now owns 4,096 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 68 shares in the last quarter. Finally, KCG Holdings Inc. grew its position in shares of Mid-America Apartment Communities by 2.3% during the first quarter. KCG Holdings Inc. now owns 3,215 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 72 shares in the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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