Barclays reiterated their buy rating on shares of Mid-America Apartment Communities (NYSE:MAA) in a research report released on Tuesday, April 17th. They currently have a $112.00 target price on the real estate investment trust’s stock.
A number of other research firms also recently issued reports on MAA. DA Davidson set a $110.00 price objective on Mid-America Apartment Communities and gave the stock a buy rating in a report on Tuesday, January 30th. SunTrust Banks set a $102.00 target price on Mid-America Apartment Communities and gave the stock a buy rating in a research note on Monday, January 22nd. Zacks Investment Research cut Mid-America Apartment Communities from a hold rating to a sell rating in a research note on Friday, January 12th. ValuEngine cut Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Jefferies Group reaffirmed a hold rating and set a $99.00 price objective on shares of Mid-America Apartment Communities in a research report on Monday, February 5th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $104.62.
Shares of MAA stock opened at $89.87 on Tuesday. The company has a market capitalization of $10,211.55, a price-to-earnings ratio of 15.12, a P/E/G ratio of 2.14 and a beta of 0.34. Mid-America Apartment Communities has a fifty-two week low of $85.16 and a fifty-two week high of $110.95.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 13th will be paid a dividend of $0.9225 per share. This represents a $3.69 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Thursday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.
In other Mid-America Apartment Communities news, Director William Reid Sanders bought 4,100 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were bought at an average price of $90.98 per share, with a total value of $373,018.00. Following the purchase, the director now owns 13,109 shares of the company’s stock, valued at $1,192,656.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Shorb bought 500 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $86.53 per share, for a total transaction of $43,265.00. Following the purchase, 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. 1.26% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meadow Creek Investment Management LLC grew its holdings in Mid-America Apartment Communities by 15.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 4,642 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 616 shares in the last quarter. Norinchukin Bank The boosted its holdings in shares of Mid-America Apartment Communities by 7.4% in the 4th quarter. Norinchukin Bank The now owns 9,084 shares of the real estate investment trust’s stock worth $913,000 after purchasing an additional 628 shares during the period. TCW Group Inc. boosted its holdings in shares of Mid-America Apartment Communities by 3.0% in the 4th quarter. TCW Group Inc. now owns 23,554 shares of the real estate investment trust’s stock worth $2,369,000 after purchasing an additional 684 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in shares of Mid-America Apartment Communities by 3.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 23,959 shares of the real estate investment trust’s stock worth $2,409,000 after purchasing an additional 722 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Mid-America Apartment Communities by 6.3% in the 4th quarter. M&T Bank Corp now owns 12,867 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 758 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.
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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 throughout the United States. As of December 31, 2017, MAA had ownership interest in 100,489 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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