Mid-America Apartment Communities (NYSE:MAA) Hits New 52-Week High – Here’s What Happened

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) hit a new 52-week high during trading on Wednesday . The company traded as high as $173.38 and last traded at $168.38, with a volume of 924528 shares trading hands. The stock had previously closed at $170.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MAA shares. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target for the company in a report on Tuesday, December 17th. Barclays raised their price target on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. BMO Capital Markets lowered their price target on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada raised their price target on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Finally, Morgan Stanley raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $159.50 to $168.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Mid-America Apartment Communities Price Performance

The company has a market capitalization of $19.68 billion, a P/E ratio of 37.59, a price-to-earnings-growth ratio of 3.72 and a beta of 0.91. The business’s 50-day moving average is $154.81 and its two-hundred day moving average is $156.82. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. As a group, analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were given a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Wednesday, January 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 135.27%.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAA. Phocas Financial Corp. purchased a new position in shares of Mid-America Apartment Communities during the fourth quarter worth about $262,000. Comprehensive Money Management Services LLC purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at $480,000. Siemens Fonds Invest GmbH purchased a new stake in Mid-America Apartment Communities in the fourth quarter worth approximately $2,391,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $14,217,000. Finally, Azzad Asset Management Inc. ADV lifted its stake in Mid-America Apartment Communities by 2.9% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 14,666 shares of the real estate investment trust’s stock worth $2,267,000 after acquiring an additional 418 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

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.