Mid-America Apartment Communities (MAA) Upgraded by Stifel Nicolaus to Buy

Stifel Nicolaus upgraded shares of Mid-America Apartment Communities (NYSE:MAA) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat Ratings reports. The firm currently has $100.00 price target on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.

MAA has been the subject of a number of other reports. Royal Bank of Canada reissued a buy rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. Mizuho reissued a hold rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Monday, November 6th. ValuEngine downgraded shares of Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Thursday, September 28th. SunTrust Banks reissued a buy rating and issued a $109.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. Finally, JMP Securities downgraded shares of Mid-America Apartment Communities from an outperform rating to a market perform rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $110.50.

Mid-America Apartment Communities (NYSE:MAA) traded up $0.98 during mid-day trading on Friday, reaching $92.52. 711,723 shares of the company were exchanged, compared to its average volume of 570,190. Mid-America Apartment Communities has a 12 month low of $90.88 and a 12 month high of $110.95. The company has a market capitalization of $10,401.42, a P/E ratio of 41.68, a P/E/G ratio of 2.12 and a beta of 0.34.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The company had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. During the same period in the prior year, the firm earned $1.47 earnings per share. Mid-America Apartment Communities’s revenue was up 38.9% on a year-over-year basis. equities research analysts anticipate that Mid-America Apartment Communities will post 5.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th will be paid a dividend of $0.9225 per share. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.99%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 166.22%.

In other Mid-America Apartment Communities news, Director William Reid Sanders bought 7,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was acquired at an average price of $100.11 per share, with a total value of $700,770.00. Following the completion of the purchase, the director now owns 8,209 shares of the company’s stock, valued at $821,802.99. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired 7,116 shares of company stock valued at $710,687 in the last ninety days. Insiders own 1.25% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. People s United Financial Inc. increased its stake in shares of Mid-America Apartment Communities by 0.4% during the second quarter. People s United Financial Inc. now owns 38,782 shares of the real estate investment trust’s stock valued at $4,087,000 after purchasing an additional 146 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Mid-America Apartment Communities by 1.7% during the second quarter. Stifel Financial Corp now owns 10,478 shares of the real estate investment trust’s stock valued at $1,106,000 after purchasing an additional 180 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Mid-America Apartment Communities by 10.4% during the second quarter. Stephens Inc. AR now owns 2,696 shares of the real estate investment trust’s stock valued at $284,000 after purchasing an additional 253 shares in the last quarter. Veritable L.P. increased its stake in shares of Mid-America Apartment Communities by 3.7% during the second quarter. Veritable L.P. now owns 10,508 shares of the real estate investment trust’s stock valued at $1,107,000 after purchasing an additional 371 shares in the last quarter. Finally, First Manhattan Co. increased its stake in shares of Mid-America Apartment Communities by 1.1% during the third quarter. First Manhattan Co. now owns 44,016 shares of the real estate investment trust’s stock valued at $4,704,000 after purchasing an additional 500 shares in the last quarter. 92.78% of the stock is owned by institutional investors and hedge funds.

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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)

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