Mid-America Apartment Communities (NYSE:MAA) Stock Rating Reaffirmed by Jefferies Group

Jefferies Group reiterated their hold rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a report issued on Monday, February 5th. The brokerage currently has a $99.00 target price on the real estate investment trust’s stock. Jefferies Group also issued estimates for Mid-America Apartment Communities’ Q1 2018 earnings at $1.47 EPS, Q2 2018 earnings at $1.48 EPS, Q3 2018 earnings at $1.51 EPS, Q4 2018 earnings at $1.58 EPS, FY2018 earnings at $6.05 EPS, FY2019 earnings at $6.55 EPS and FY2020 earnings at $6.91 EPS.

Other analysts have also issued reports about the company. SunTrust Banks reiterated a buy rating and set a $109.00 price objective on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. Stifel Nicolaus upgraded Mid-America Apartment Communities from a hold rating to a buy rating and set a $100.00 price objective on the stock in a research note on Friday, January 19th. They noted that the move was a valuation call. Raymond James Financial reiterated a market perform rating on shares of Mid-America Apartment Communities in a research note on Wednesday, November 29th. ValuEngine lowered Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reiterated a buy rating and set a $110.00 price objective on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Mid-America Apartment Communities presently has a consensus rating of Buy and an average target price of $106.15.

Shares of Mid-America Apartment Communities (NYSE:MAA) traded up $0.93 during midday trading on Monday, hitting $88.78. The stock had a trading volume of 147,231 shares, compared to its average volume of 816,500. Mid-America Apartment Communities has a 1 year low of $85.30 and a 1 year high of $110.95. The stock has a market cap of $9,998.04, a PE ratio of 14.81, a PEG ratio of 2.07 and a beta of 0.28.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were paid a $0.9225 dividend. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. This represents a $3.69 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, January 11th. Mid-America Apartment Communities’s dividend payout ratio is currently 129.02%.

In other news, Director William Reid Sanders acquired 4,100 shares of Mid-America Apartment Communities stock in a transaction dated Friday, February 2nd. The shares were purchased at an average cost of $90.98 per share, for a total transaction of $373,018.00. Following the transaction, the director now owns 13,109 shares of the company’s stock, valued at $1,192,656.82. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Shorb acquired 500 shares of Mid-America Apartment Communities stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $86.53 per share, for a total transaction of $43,265.00. Following the completion of the transaction, the director now directly owns 4,750 shares in the company, valued at approximately $411,017.50. The disclosure for this purchase can be found here. Insiders acquired a total of 4,716 shares of company stock worth $426,200 over the last 90 days. Corporate insiders own 1.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Mid-America Apartment Communities by 4.2% during the 4th quarter. BlackRock Inc. now owns 11,003,658 shares of the real estate investment trust’s stock valued at $1,106,527,000 after purchasing an additional 440,089 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Mid-America Apartment Communities by 1.7% during the 4th quarter. Alliancebernstein L.P. now owns 3,109,252 shares of the real estate investment trust’s stock valued at $312,666,000 after purchasing an additional 50,626 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Mid-America Apartment Communities by 15.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,862,188 shares of the real estate investment trust’s stock valued at $303,363,000 after purchasing an additional 391,336 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Mid-America Apartment Communities by 246.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,758,223 shares of the real estate investment trust’s stock valued at $277,366,000 after purchasing an additional 1,961,027 shares during the last quarter. Finally, Cohen & Steers Inc. increased its position in shares of Mid-America Apartment Communities by 197.0% during the 3rd quarter. Cohen & Steers Inc. now owns 2,025,767 shares of the real estate investment trust’s stock valued at $216,514,000 after purchasing an additional 1,343,626 shares during the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Mid-America Apartment Communities (NYSE:MAA) Stock Rating Reaffirmed by Jefferies Group” was originally posted by Week Herald and is the property of of Week Herald. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://weekherald.com/2018/02/15/mid-america-apartment-communities-maa-earns-hold-rating-from-jefferies-group.html.

Mid-America Apartment Communities Company Profile

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)

Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply