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.
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.
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