Royal Bank of Canada Issues Positive Forecast for Mid-America Apartment Communities (NYSE:MAA) Stock Price

Mid-America Apartment Communities (NYSE:MAA) had its target price raised by Royal Bank of Canada from $158.00 to $161.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Several other research firms have also commented on MAA. Barclays lowered their price objective on shares of Mid-America Apartment Communities from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research report on Monday, October 21st. BMO Capital Markets reduced their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 21st. Evercore ISI assumed coverage on Mid-America Apartment Communities in a research note on Friday, January 24th. They set an “inline” rating and a $155.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.80.

Mid-America Apartment Communities Stock Down 0.5 %

Shares of NYSE MAA opened at $158.04 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $153.77 and its two-hundred day moving average is $155.12. Mid-America Apartment Communities has a 52-week low of $121.51 and a 52-week high of $167.39. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.56 and a beta of 0.91.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. Research analysts predict that Mid-America Apartment Communities will post 8.86 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $1.515 dividend. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 135.27%.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new position in Mid-America Apartment Communities during the 3rd quarter worth $2,890,000. Swedbank AB grew its holdings in shares of Mid-America Apartment Communities by 2.6% during the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock worth $32,350,000 after buying an additional 5,178 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Mid-America Apartment Communities by 2.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock valued at $28,711,000 after acquiring an additional 4,301 shares during the period. Eagle Asset Management Inc. purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at approximately $4,304,000. Finally, Capital Investment Advisors LLC lifted its position in Mid-America Apartment Communities by 27.1% during the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust’s stock worth $9,040,000 after acquiring an additional 12,454 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.