Mid-America Apartment Communities (NYSE:MAA) Earns “Neutral” Rating from Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a research report sent to investors on Tuesday morning, Benzinga reports. Piper Sandler currently has a $140.00 price target on the real estate investment trust’s stock.

MAA has been the topic of a number of other reports. The Goldman Sachs Group restated a buy rating and issued a $149.00 price target on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Royal Bank of Canada reiterated a sector perform rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Truist Financial upgraded Mid-America Apartment Communities from a hold rating to a buy rating and boosted their target price for the stock from $154.00 to $158.00 in a research report on Tuesday, January 16th. Jefferies Financial Group reiterated a hold rating and set a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Finally, Colliers Securities upgraded Mid-America Apartment Communities from a neutral rating to a buy rating and set a $144.00 target price on the stock in a research report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $143.76.

Mid-America Apartment Communities Stock Up 0.6 %

Mid-America Apartment Communities stock opened at $131.58 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a 1-year low of $115.56 and a 1-year high of $158.46. The company has a market cap of $15.36 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 4.12 and a beta of 0.80. The stock’s 50 day moving average price is $129.20 and its 200 day moving average price is $129.16.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The business had revenue of $542.25 million during the quarter, compared to analysts’ expectations of $542.64 million. During the same quarter last year, the firm earned $2.32 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Mid-America Apartment Communities will post 8.94 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a yield of 4.47%. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Insider Activity at Mid-America Apartment Communities

In related news, EVP Melanie Carpenter sold 371 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the transaction, the executive vice president now directly owns 19,067 shares in the company, valued at $2,504,069.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Melanie Carpenter sold 371 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the transaction, the executive vice president now directly owns 19,067 shares in the company, valued at $2,504,069.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the transaction, the chief executive officer now owns 304,523 shares of the company’s stock, valued at $39,651,939.83. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in Mid-America Apartment Communities by 9.2% during the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after acquiring an additional 13,045 shares during the last quarter. Covestor Ltd increased its stake in Mid-America Apartment Communities by 71.9% during the third quarter. Covestor Ltd now owns 667 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 279 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Mid-America Apartment Communities by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,014 shares of the real estate investment trust’s stock worth $161,072,000 after acquiring an additional 16,889 shares during the last quarter. Aurora Investment Managers LLC. increased its stake in Mid-America Apartment Communities by 4.4% during the fourth quarter. Aurora Investment Managers LLC. now owns 17,074 shares of the real estate investment trust’s stock worth $2,296,000 after acquiring an additional 714 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Mid-America Apartment Communities by 12.2% in the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after buying an additional 592,306 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

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.