Mid-America Apartment Communities (NYSE:MAA) Price Target Increased to $125.00 by Analysts at KeyCorp

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Mid-America Apartment Communities (NYSE:MAA) had its price objective hoisted by KeyCorp from $112.00 to $125.00 in a research note released on Wednesday, The Fly reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock. KeyCorp also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $6.27 EPS and FY2020 earnings at $6.49 EPS.

Several other equities analysts have also weighed in on the company. SunTrust Banks increased their target price on Mid-America Apartment Communities to $120.00 and gave the company a positive rating in a research note on Wednesday, June 19th. They noted that the move was a valuation call. Mizuho set a $27.00 target price on Horizon Therapeutics and gave the company a hold rating in a research note on Wednesday, May 8th. Zacks Investment Research lowered Hanger from a hold rating to a sell rating in a research note on Tuesday, May 28th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. Finally, BMO Capital Markets reissued a hold rating and issued a $54.00 target price on shares of Apartment Investment and Management in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Mid-America Apartment Communities presently has a consensus rating of Buy and a consensus target price of $112.18.

Mid-America Apartment Communities stock traded down $1.60 during mid-day trading on Wednesday, hitting $121.96. The stock had a trading volume of 563,497 shares, compared to its average volume of 519,349. The firm’s 50-day moving average is $117.63. The firm has a market cap of $13.82 billion, a PE ratio of 20.19, a PEG ratio of 4.99 and a beta of 0.40. Mid-America Apartment Communities has a 12 month low of $91.21 and a 12 month high of $123.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.14.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.95). The firm had revenue of $401.17 million during the quarter, compared to the consensus estimate of $400.91 million. Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. Mid-America Apartment Communities’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 EPS. Research analysts forecast that Mid-America Apartment Communities will post 6.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.

In other news, Director Claude B. Nielsen sold 6,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $109.83, for a total transaction of $713,895.00. Following the sale, the director now owns 12,117 shares of the company’s stock, valued at $1,330,810.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. grew its holdings in shares of Mid-America Apartment Communities by 0.5% during the second quarter. First Citizens Bank & Trust Co. now owns 25,861 shares of the real estate investment trust’s stock worth $3,045,000 after buying an additional 128 shares in the last quarter. Anchor Capital Advisors LLC grew its holdings in shares of Mid-America Apartment Communities by 1.0% during the first quarter. Anchor Capital Advisors LLC now owns 13,402 shares of the real estate investment trust’s stock worth $1,465,000 after buying an additional 130 shares in the last quarter. Clean Yield Group grew its holdings in shares of Mid-America Apartment Communities by 0.5% during the first quarter. Clean Yield Group now owns 27,065 shares of the real estate investment trust’s stock worth $2,959,000 after buying an additional 140 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Mid-America Apartment Communities by 0.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 17,306 shares of the real estate investment trust’s stock worth $1,892,000 after buying an additional 151 shares in the last quarter. Finally, West Oak Capital LLC grew its holdings in shares of Mid-America Apartment Communities by 7.1% during the first quarter. West Oak Capital LLC now owns 2,400 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 160 shares in the last quarter. 92.47% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Company Profile

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: Capital Gains

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

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