>Barclays PLC reissued their overweight rating on shares of Mid-America Apartment Communities Inc (NYSE:MAA) in a research report report published on Wednesday, April 19th. The brokerage currently has a $117.00 target price on the real estate investment trust’s stock, up from their previous target price of $116.00.
A number of other research analysts have also issued reports on MAA. Zacks Investment Research upgraded Mid-America Apartment Communities from a strong sell rating to a hold rating in a report on Tuesday, January 10th. BMO Capital Markets reiterated a buy rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a report on Friday, February 17th. Finally, Jefferies Group LLC lifted their target price on Mid-America Apartment Communities from $109.00 to $115.00 and gave the company a buy rating in a report on Thursday, March 30th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Mid-America Apartment Communities presently has an average rating of Buy and a consensus target price of $108.00.
Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.02. The firm had revenue of $375.91 million during the quarter, compared to analyst estimates of $358.74 million. Mid-America Apartment Communities had a return on equity of 6.14% and a net margin of 18.83%. Mid-America Apartment Communities’s revenue was up 39.7% compared to the same quarter last year. During the same period last year, the business posted $1.50 earnings per share.
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The company also recently declared a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 14th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Tuesday, April 11th. Mid-America Apartment Communities’s dividend payout ratio is currently 128.41%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 9,033 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $101.00, for a total transaction of $912,333.00. Following the transaction, the director now owns 82,528 shares of the company’s stock, valued at approximately $8,335,328. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary Shorb purchased 500 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, May 9th. The shares were acquired at an average cost of $98.90 per share, for a total transaction of $49,450.00. Following the purchase, the director now owns 4,250 shares in the company, valued at $420,325. The disclosure for this purchase can be found here. Corporate insiders own 1.66% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new stake in Mid-America Apartment Communities during the third quarter worth approximately $153,000. Independent Advisor Alliance purchased a new stake in Mid-America Apartment Communities during the fourth quarter worth approximately $162,000. Creative Planning increased its stake in Mid-America Apartment Communities by 50.7% in the first quarter. Creative Planning now owns 1,715 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 577 shares during the last quarter. Kemper Corp Master Retirement Trust purchased a new stake in Mid-America Apartment Communities during the third quarter worth approximately $172,000. Finally, Chickasaw Capital Management LLC purchased a new stake in Mid-America Apartment Communities during the first quarter worth approximately $203,000. 97.98% of the stock is currently 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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