KeyCorp set a $108.00 target price on Mid-America Apartment Communities (NYSE:MAA) in a report issued on Thursday, December 20th. The firm currently has a buy rating on the real estate investment trust’s stock.
A number of other research firms have also recently issued reports on MAA. Barclays restated a buy rating on shares of Mid-America Apartment Communities in a research note on Wednesday, November 28th. Capital One Financial initiated coverage on shares of Mid-America Apartment Communities in a research note on Monday, October 22nd. They set an equal weight rating and a $101.50 target price for the company. Citigroup set a $105.00 target price on shares of Mid-America Apartment Communities and gave the stock a hold rating in a research note on Monday, November 5th. Scotiabank initiated coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, October 16th. They set a sector perform rating for the company. Finally, ValuEngine upgraded shares of Mid-America Apartment Communities from a hold rating to a buy rating in a research note on Tuesday, December 18th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $103.04.
MAA stock traded down $0.67 during trading hours on Thursday, reaching $96.52. The stock had a trading volume of 557,800 shares, compared to its average volume of 609,024. The stock has a market cap of $10.81 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.16 and a beta of 0.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.17 and a quick ratio of 0.17. Mid-America Apartment Communities has a fifty-two week low of $85.16 and a fifty-two week high of $104.98.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($1.04). The firm had revenue of $397.10 million during the quarter, compared to analyst estimates of $393.76 million. Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS. As a group, equities research analysts anticipate that Mid-America Apartment Communities will post 6.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Tuesday, January 15th will be paid a $0.96 dividend. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, January 14th. This represents a $3.84 annualized dividend and a yield of 3.98%. Mid-America Apartment Communities’s payout ratio is 62.12%.
A number of institutional investors have recently modified their holdings of MAA. SRS Capital Advisors Inc. bought a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $120,000. First Hawaiian Bank bought a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $171,000. Bridgeworth LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $180,000. BB&T Securities LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $201,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 92.48% of the company’s stock.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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