Mid-America Apartment Communities (NYSE:MAA) had its price target reduced by Cantor Fitzgerald from $110.00 to $105.00 in a research note published on Tuesday. They currently have an overweight rating on the real estate investment trust’s stock. Cantor Fitzgerald also issued estimates for Mid-America Apartment Communities’ FY2018 earnings at $6.06 EPS and FY2019 earnings at $6.44 EPS.
“Estimate Update. We have lowered our 2018 FFO/sh. estimates to $6.06 from $6.13, and our SS Revenue estimate to 1.9% from 2.2%. Our NAV/sh. estimate is $104.70 vs. $104.50 prior. On a relative basis, MAA’s 2.0% SS revenue growth guidance for 2018 compares with 1.63% for EQR and 2.1% for AVB.”,” Cantor Fitzgerald’s analyst commented.
A number of other research analysts have also commented on the stock. Royal Bank of Canada restated a buy rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. Jefferies Group lowered shares of Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Thursday, December 14th. Robert W. Baird reiterated a buy rating and set a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, November 10th. Zacks Investment Research lowered shares of Mid-America Apartment Communities from a hold rating to a sell rating in a research note on Friday, January 12th. Finally, Stifel Nicolaus dropped their price target on shares of Mid-America Apartment Communities from $113.00 to $100.00 and set a hold rating on the stock in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $106.15.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were paid a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.21%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is 129.02%.
In related news, Director William Reid Sanders acquired 4,100 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were purchased at an average price of $90.98 per share, with a total value of $373,018.00. Following the completion of the acquisition, the director now owns 13,109 shares in the company, valued at $1,192,656.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have bought 4,216 shares of company stock worth $382,935. Company insiders own 1.25% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MAA. Group One Trading L.P. purchased a new stake in Mid-America Apartment Communities during the third quarter worth about $209,000. Conning Inc. purchased a new stake in Mid-America Apartment Communities during the fourth quarter worth about $211,000. IFM Investors Pty Ltd purchased a new stake in Mid-America Apartment Communities during the third quarter worth about $217,000. Timber Hill LLC purchased a new stake in Mid-America Apartment Communities during the third quarter worth about $218,000. Finally, Independent Advisor Alliance purchased a new stake in Mid-America Apartment Communities during the third quarter worth about $227,000. 92.95% of the stock is currently owned by hedge funds and other institutional investors.
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About Mid-America Apartment Communities
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.
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