Citigroup Raises Mid-America Apartment Communities (NYSE:MAA) Price Target to $135.00

Mid-America Apartment Communities (NYSE:MAA) had its price objective boosted by Citigroup from $120.00 to $135.00 in a research note issued to investors on Thursday morning, Stock Target Advisor reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on MAA. ValuEngine downgraded shares of Mid-America Apartment Communities from a buy rating to a hold rating in a research report on Wednesday, October 2nd. KeyCorp raised their price target on shares of Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an overweight rating in a report on Tuesday, October 8th. Capital One Financial upgraded shares of Mid-America Apartment Communities from an equal weight rating to an overweight rating in a report on Monday, November 4th. Barclays set a $141.00 price target on shares of Mid-America Apartment Communities and gave the company a buy rating in a report on Friday, October 11th. Finally, Mizuho raised their price target on shares of Mid-America Apartment Communities from $132.00 to $145.00 and gave the company a buy rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $126.75.

NYSE MAA traded down $1.27 during trading on Thursday, reaching $133.99. 461,365 shares of the company’s stock traded hands, 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. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 5.38 and a beta of 0.33. The company’s 50 day simple moving average is $133.48 and its two-hundred day simple moving average is $122.59. Mid-America Apartment Communities has a 12-month low of $91.21 and a 12-month high of $140.15.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.87). The business had revenue of $415.63 million for the quarter, compared to analysts’ expectations of $411.16 million. Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.50 EPS. Research analysts expect that Mid-America Apartment Communities will post 6.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, October 11th. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.

In other news, Director David P. Stockert sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $136.46, for a total value of $682,300.00. Following the sale, the director now directly 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 can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. First Financial Corp IN acquired a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $27,000. Johnson Financial Group Inc. acquired a new stake in Mid-America Apartment Communities in the 2nd quarter worth approximately $29,000. JJJ Advisors Inc. acquired a new stake in Mid-America Apartment Communities in the 2nd quarter worth approximately $31,000. Parallel Advisors LLC boosted its stake in 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 worth $34,000 after purchasing an additional 73 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in 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 worth $36,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

Mid-America Apartment Communities Company Profile

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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Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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