Mid-America Apartment Communities (NYSE:MAA) Reaches New 52-Week Low on Analyst Downgrade

Mid-America Apartment Communities, Inc. (NYSE:MAA) shares reached a new 52-week low on Monday after Evercore ISI lowered their price target on the stock from $153.00 to $144.00. Evercore ISI currently has an in-line rating on the stock. Mid-America Apartment Communities traded as low as $125.75 and last traded at $126.5420, with a volume of 136179 shares. The stock had previously closed at $128.23.

Other analysts have also issued research reports about the company. Cantor Fitzgerald assumed coverage on Mid-America Apartment Communities in a report on Wednesday, October 1st. They set a “neutral” rating and a $150.00 price objective on the stock. KeyCorp decreased their price target on Mid-America Apartment Communities from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, October 8th. The Goldman Sachs Group lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research note on Friday, July 11th. Finally, Royal Bank Of Canada decreased their price target on Mid-America Apartment Communities from $143.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $159.78.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Mid-America Apartment Communities by 0.5% in the second quarter. Vanguard Group Inc. now owns 18,540,029 shares of the real estate investment trust’s stock worth $2,744,110,000 after purchasing an additional 101,397 shares in the last quarter. State Street Corp lifted its stake in shares of Mid-America Apartment Communities by 2.0% during the second quarter. State Street Corp now owns 7,994,245 shares of the real estate investment trust’s stock valued at $1,183,228,000 after acquiring an additional 159,278 shares during the period. Norges Bank acquired a new position in shares of Mid-America Apartment Communities during the second quarter valued at $795,893,000. Geode Capital Management LLC lifted its stake in shares of Mid-America Apartment Communities by 1.7% during the second quarter. Geode Capital Management LLC now owns 3,315,620 shares of the real estate investment trust’s stock valued at $488,867,000 after acquiring an additional 54,063 shares during the period. Finally, APG Asset Management US Inc. lifted its stake in shares of Mid-America Apartment Communities by 9.7% during the first quarter. APG Asset Management US Inc. now owns 3,069,507 shares of the real estate investment trust’s stock valued at $514,081,000 after acquiring an additional 271,507 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 1.1%

The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 3.38 and a beta of 0.77. The firm has a 50 day moving average price of $138.15 and a 200-day moving average price of $146.90.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.01). Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.10%. The firm had revenue of $554.37 million for the quarter, compared to analyst estimates of $557.22 million. During the same period last year, the company earned $2.21 EPS. The company’s revenue was up .6% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were paid a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 4.8%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Wednesday, October 15th. Mid-America Apartment Communities’s payout ratio is currently 128.39%.

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.