Royal Bank of Canada Raises Mid-America Apartment Communities (NYSE:MAA) Price Target to $148.00

Mid-America Apartment Communities (NYSE:MAA) had its target price hoisted by Royal Bank of Canada from $145.00 to $148.00 in a research note published on Friday morning, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on the company. Mizuho upped their price target on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Wells Fargo & Company upped 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. Wedbush upgraded Mid-America Apartment Communities from a neutral rating to an outperform rating and upped their price target for the stock from $135.00 to $154.00 in a report on Monday, May 6th. Janney Montgomery Scott raised Mid-America Apartment Communities from a neutral rating to a buy rating and set a $150.00 price objective on the stock in a research report on Thursday, June 13th. Finally, UBS Group boosted their price objective on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a sell rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $145.15.

Mid-America Apartment Communities Stock Down 2.2 %

Shares of NYSE MAA traded down $3.36 during midday trading on Friday, hitting $146.66. 723,111 shares of the stock traded hands, compared to its average volume of 772,233. The business has a 50 day moving average price of $139.74 and a two-hundred day moving average price of $133.59. Mid-America Apartment Communities has a one year low of $115.56 and a one year high of $152.02. The company has a market cap of $17.13 billion, a PE ratio of 30.82, a P/E/G ratio of 3.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were paid a $1.47 dividend. The ex-dividend date was Monday, July 15th. This represents a $5.88 annualized dividend and a yield of 4.01%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Blue Barn Wealth LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter worth about $221,000. BBR Partners LLC boosted its stake in Mid-America Apartment Communities by 0.5% in the 2nd quarter. BBR Partners LLC now owns 22,598 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 120 shares during the period. Hamel Associates Inc. purchased a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $590,000. National Bank of Canada FI raised its holdings in shares of Mid-America Apartment Communities by 24.3% in the 2nd quarter. National Bank of Canada FI now owns 32,405 shares of the real estate investment trust’s stock valued at $4,575,000 after acquiring an additional 6,332 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Mid-America Apartment Communities by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 40,402 shares of the real estate investment trust’s stock valued at $5,762,000 after acquiring an additional 1,148 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

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.