Mid-America Apartment Communities (NYSE:MAA) Price Target Cut to $165.00 by Analysts at Royal Bank of Canada

Mid-America Apartment Communities (NYSE:MAA) had its price objective decreased by Royal Bank of Canada from $169.00 to $165.00 in a research report released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the real estate investment trust’s stock.

A number of other equities analysts have also weighed in on the stock. Scotiabank increased their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Wedbush raised their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research report on Monday, October 21st. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Finally, BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.69.

Mid-America Apartment Communities Stock Performance

NYSE MAA traded down $2.17 during trading hours on Friday, reaching $149.17. 1,027,700 shares of the company were exchanged, compared to its average volume of 755,354. Mid-America Apartment Communities has a 1 year low of $118.68 and a 1 year high of $167.39. The business’s 50 day simple moving average is $158.10 and its 200-day simple moving average is $145.93. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $17.43 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.45 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.34% and a net margin of 23.84%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $2.29 EPS. On average, equities research analysts expect that Mid-America Apartment Communities will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at $26,000. Versant Capital Management Inc boosted its holdings in shares of Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 215 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at $37,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Mid-America Apartment Communities by 305.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 238 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

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