Barclays PLC Reiterates “Overweight” Rating For Mid America Apartment Communities Inc (MAA)

Mid-America Apartment Communities logoMid-America Apartment Communities, Inc. (NYSE:MAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $111.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.29% from the stock’s current price.

According to Zacks, “Shares of Mid-America Apartment Communities, which is commonly known as MAA, outperformed the Zacks categorized REIT and Equity Trust – Residential industry in the past six months. The company’s diverse portfolio and strong balance sheet amid growing demand for residential units augur well. In April, the company also reported better-than-expected first-quarter 2017 funds from operations (FFO) per share. The results reflected growth in same store portfolio net operating income (NOI) and effective rent per unit. Further, the Dec 2016 merger of MAA and Post Properties enhanced the company’s scale. While this merger is a strategic fit, MAA has incurred and anticipates experiencing huge expenses related to the merger. Moreover, higher concentration of its operations in certain markets makes its earnings susceptible to the local economic conditions.”

A number of other equities analysts also recently commented on the company. Barclays PLC reiterated an “overweight” rating and set a $117.00 price objective (up previously from $116.00) on shares of Mid-America Apartment Communities in a research report on Wednesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, April 27th. BidaskClub upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Jefferies Group LLC lifted their price objective on Mid-America Apartment Communities from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $108.62.

Mid-America Apartment Communities (MAA) traded up 0.80% during mid-day trading on Wednesday, reaching $100.54. The company had a trading volume of 243,078 shares. Mid-America Apartment Communities has a 52 week low of $85.04 and a 52 week high of $110.95. The stock has a 50 day moving average of $104.54 and a 200 day moving average of $100.39. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 42.60 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.02. The firm had revenue of $375.91 million for the quarter, compared to analyst estimates of $358.74 million. Mid-America Apartment Communities had a return on equity of 5.02% and a net margin of 17.03%. The business’s revenue was up 39.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 earnings per share. Analysts anticipate that Mid-America Apartment Communities will post $1.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be given a $0.87 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.49%. Mid-America Apartment Communities’s dividend payout ratio is currently 139.76%.

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In other Mid-America Apartment Communities news, Director Gary Shorb bought 500 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, May 9th. The shares were bought at an average price of $98.90 per share, for a total transaction of $49,450.00. Following the completion of the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at $420,325. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.25% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Mid-America Apartment Communities by 6.8% in the fourth quarter. AQR Capital Management LLC now owns 61,503 shares of the real estate investment trust’s stock worth $6,022,000 after buying an additional 3,941 shares in the last quarter. Quadrature Capital Ltd increased its stake in Mid-America Apartment Communities by 112.2% in the fourth quarter. Quadrature Capital Ltd now owns 34,122 shares of the real estate investment trust’s stock worth $3,342,000 after buying an additional 18,044 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Mid-America Apartment Communities by 55.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 376,231 shares of the real estate investment trust’s stock worth $36,841,000 after buying an additional 133,851 shares in the last quarter. Teachers Advisors LLC increased its stake in Mid-America Apartment Communities by 68.8% in the fourth quarter. Teachers Advisors LLC now owns 792,772 shares of the real estate investment trust’s stock worth $77,628,000 after buying an additional 323,160 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in Mid-America Apartment Communities during the fourth quarter worth approximately $807,000. Institutional investors own 91.82% of the company’s stock.

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.

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

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