Barclays Begins Coverage on Mid-America Apartment Communities (NYSE:MAA)

Barclays initiated coverage on shares of Mid-America Apartment Communities (NYSE:MAA) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $166.00 price target on the real estate investment trust’s stock.

MAA has been the subject of a number of other reports. Piper Sandler upped their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. BNP Paribas assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and an average price target of $163.76.

Mid-America Apartment Communities Trading Down 1.0 %

MAA opened at $149.43 on Tuesday. Mid-America Apartment Communities has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a 50 day simple moving average of $156.94 and a 200 day simple moving average of $152.23.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same period last year, the company earned $2.29 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.515 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 136.79%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Mid-America Apartment Communities by 0.9% in the 3rd quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock valued at $1,228,569,000 after buying an additional 65,696 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Mid-America Apartment Communities by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock valued at $497,624,000 after acquiring an additional 48,168 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after acquiring an additional 393,067 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Mid-America Apartment Communities by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock valued at $244,803,000 after purchasing an additional 97,672 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Mid-America Apartment Communities by 2.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock valued at $234,497,000 after purchasing an additional 44,621 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.