Mid-America Apartment Communities (NYSE:MAA) Upgraded to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a neutral rating to a buy rating in a report released on Thursday, MarketBeat reports. They currently have $150.00 price objective on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on MAA. UBS Group raised their target price on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a sell rating in a research note on Tuesday, May 14th. Mizuho lifted their price objective on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a neutral rating in a research report on Thursday, May 30th. Truist Financial dropped their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a buy rating on the stock in a report on Tuesday, April 9th. Wells Fargo & Company lifted their price target on Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an equal weight rating in a report on Friday, May 31st. Finally, Piper Sandler reaffirmed a neutral rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of Hold and a consensus price target of $141.97.

Mid-America Apartment Communities Stock Up 0.8 %

Shares of MAA stock opened at $139.32 on Thursday. The firm’s fifty day moving average price is $132.98 and its two-hundred day moving average price is $131.16. Mid-America Apartment Communities has a 1 year low of $115.56 and a 1 year high of $158.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $16.28 billion, a P/E ratio of 29.21, a PEG ratio of 3.08 and a beta of 0.84.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. During the same period in the prior year, the firm posted $2.28 EPS. Mid-America Apartment Communities’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Mid-America Apartment Communities will post 8.87 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Insiders Place Their Bets

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 2,807 shares of company stock worth $353,955 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Mid-America Apartment Communities

A number of institutional investors have recently modified their holdings of the stock. DecisionPoint Financial LLC bought a new position in shares of Mid-America Apartment Communities in the first quarter worth $26,000. First United Bank & Trust bought a new position in Mid-America Apartment Communities in the 4th quarter valued at about $27,000. Mather Group LLC. acquired a new position in shares of Mid-America Apartment Communities in the 1st quarter valued at approximately $32,000. First Financial Corp IN lifted its holdings in shares of Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 86 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. 93.60% of the stock is currently owned by institutional investors.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.