Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a research note issued to investors on Friday, Benzinga’s Daily Ratings Newsletter reports. The firm issued a neutral rating and a $149.00 target price on the real estate investment trust’s stock.
MAA has been the subject of several other research reports. Capital One Financial upgraded Mid-America Apartment Communities from an equal weight rating to an overweight rating in a research report on Monday, November 4th. ValuEngine cut Mid-America Apartment Communities from a buy rating to a hold rating in a report on Wednesday, October 2nd. SunTrust Banks raised their price target on Mid-America Apartment Communities to $130.00 and gave the company a buy rating in a report on Wednesday, September 11th. Mizuho raised their price target on Mid-America Apartment Communities from $132.00 to $145.00 and gave the company a buy rating in a report on Thursday, October 31st. Finally, KeyCorp raised their price target on Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an overweight rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $126.75.
Shares of NYSE:MAA traded down $1.27 during trading on Friday, hitting $133.99. 461,365 shares of the company’s stock were exchanged, compared to its average volume of 522,704. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.08 and a quick ratio of 0.08. Mid-America Apartment Communities has a 52-week low of $91.21 and a 52-week high of $140.15. The business’s 50-day simple moving average is $133.48 and its 200 day simple moving average is $122.59. The company has a market cap of $15.47 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 5.38 and a beta of 0.33.
Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a return on equity of 3.84% and a net margin of 16.25%. The business had revenue of $415.63 million for the quarter, compared to analysts’ expectations of $411.16 million. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities will post 6.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, October 11th. Mid-America Apartment Communities’s dividend payout ratio is presently 63.58%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total transaction of $682,300.00. Following the completion of the transaction, the director now owns 68,778 shares in the company, valued at approximately $9,385,445.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of MAA. First Financial Corp IN bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $27,000. Johnson Financial Group Inc. bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $29,000. JJJ Advisors Inc. bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $31,000. Parallel Advisors LLC lifted its stake in shares of Mid-America Apartment Communities by 38.2% in the 3rd quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 73 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Mid-America Apartment Communities by 193.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. 93.19% of the stock is owned by institutional investors and hedge funds.
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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