Evercore ISI Cuts Mid-America Apartment Communities (NYSE:MAA) Price Target to $155.00

Mid-America Apartment Communities (NYSE:MAA) had its price target cut by Evercore ISI from $163.00 to $155.00 in a research note published on Monday,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on MAA. Wall Street Zen downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. UBS Group lowered their price target on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating for the company in a report on Tuesday, July 15th. The Goldman Sachs Group lowered shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $165.00 price objective on the stock. in a report on Friday, July 11th. Royal Bank Of Canada lowered their target price on Mid-America Apartment Communities from $158.00 to $155.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. Finally, Barclays boosted their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $166.95.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $140.67 on Monday. The firm’s fifty day simple moving average is $149.52 and its 200 day simple moving average is $155.91. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83. Mid-America Apartment Communities has a twelve month low of $138.67 and a twelve month high of $173.38. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.79 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. The company had revenue of $549.90 million for the quarter, compared to analysts’ expectations of $552.19 million. During the same quarter in the previous year, the firm posted $2.22 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts expect that Mid-America Apartment Communities will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a $1.515 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAA. Financial Network Wealth Advisors LLC acquired a new position in shares of Mid-America Apartment Communities during the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new stake in Mid-America Apartment Communities in the second quarter worth about $26,000. Larson Financial Group LLC lifted its holdings in Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 91 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Mid-America Apartment Communities by 972.2% during the 2nd quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 175 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Mid-America Apartment Communities in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.