Brokerages Set Mid-America Apartment Communities Inc (NYSE:MAA) Target Price at $114.45

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Mid-America Apartment Communities Inc (NYSE:MAA) has earned a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $114.45.

Several equities research analysts recently commented on the company. KeyCorp boosted their target price on Mid-America Apartment Communities from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their target price on Mid-America Apartment Communities from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. SunTrust Banks lifted their price target on shares of Mid-America Apartment Communities to $120.00 and gave the stock a “positive” rating in a research report on Wednesday, June 19th. They noted that the move was a valuation call. ValuEngine upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Scotiabank lowered shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the stock from $114.00 to $107.00 in a research report on Tuesday, July 9th.

In other news, Director David P. Stockert sold 2,047 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $120.84, for a total transaction of $247,359.48. Following the transaction, the director now directly owns 65,240 shares in the company, valued at approximately $7,883,601.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MAA. Nuveen Asset Management LLC lifted its stake in shares of Mid-America Apartment Communities by 333.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 822,353 shares of the real estate investment trust’s stock valued at $96,841,000 after purchasing an additional 632,686 shares during the last quarter. Barings LLC acquired a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at $45,411,000. Janus Henderson Group PLC lifted its stake in shares of Mid-America Apartment Communities by 46.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,186,322 shares of the real estate investment trust’s stock valued at $129,702,000 after purchasing an additional 374,503 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in shares of Mid-America Apartment Communities by 157,752.2% in the 2nd quarter. Centersquare Investment Management LLC now owns 353,589 shares of the real estate investment trust’s stock valued at $41,639,000 after purchasing an additional 353,365 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Mid-America Apartment Communities by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock valued at $2,223,484,000 after purchasing an additional 346,064 shares during the last quarter. 92.31% of the stock is owned by institutional investors and hedge funds.

Shares of MAA traded up $1.05 during mid-day trading on Friday, reaching $123.69. 10,800 shares of the company’s stock traded hands, compared to its average volume of 617,720. The firm’s 50-day simple moving average is $120.47. The company has a market cap of $14.16 billion, a PE ratio of 20.47, a P/E/G ratio of 5.09 and a beta of 0.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities has a 12 month low of $91.21 and a 12 month high of $125.31.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.

About Mid-America Apartment Communities

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

Further Reading: How to Invest in Growth Stocks

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

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