Mid-America Apartment Communities Inc (NYSE:MAA)‘s stock had its “overweight” rating restated by research analysts at Barclays PLC in a report released on Wednesday. They presently have a $117.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $116.00. Barclays PLC’s price objective points to a potential upside of 15.20% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC boosted their price objective on Mid-America Apartment Communities from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 30th. Zacks Investment Research upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, February 17th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Mid-America Apartment Communities has a consensus rating of “Buy” and an average target price of $108.00.
Shares of Mid-America Apartment Communities (NYSE:MAA) opened at 101.56 on Wednesday. The company’s 50 day moving average is $101.20 and its 200-day moving average is $96.02. The company has a market capitalization of $11.53 billion, a P/E ratio of 37.77 and a beta of 0.29. Mid-America Apartment Communities has a 1-year low of $85.04 and a 1-year high of $110.01.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, February 1st. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. Mid-America Apartment Communities had a return on equity of 6.14% and a net margin of 18.83%. The business had revenue of $307.20 million for the quarter, compared to analysts’ expectations of $302.58 million. During the same period in the previous year, the business posted $1.45 EPS. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Mid-America Apartment Communities will post $2.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Tuesday, April 11th. Mid-America Apartment Communities’s payout ratio is 128.41%.
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In other news, Director David P. Stockert sold 9,033 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.00, for a total transaction of $912,333.00. Following the completion of the transaction, the director now owns 82,528 shares of the company’s stock, valued at $8,335,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.66% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Mid-America Apartment Communities by 73.1% in the fourth quarter. State Street Corp now owns 6,592,293 shares of the real estate investment trust’s stock valued at $645,520,000 after buying an additional 2,784,004 shares during the last quarter. FMR LLC raised its position in shares of Mid-America Apartment Communities by 117.4% in the fourth quarter. FMR LLC now owns 3,662,776 shares of the real estate investment trust’s stock valued at $358,660,000 after buying an additional 1,977,777 shares during the last quarter. Shelton Capital Management acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $676,000. Norges Bank acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $95,575,000. Finally, Heitman Real Estate Securities LLC acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $59,067,000. 97.98% of the stock is owned by institutional investors.
About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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