Evercore ISI Raises Mid-America Apartment Communities (NYSE:MAA) Price Target to $159.00

Mid-America Apartment Communities (NYSE:MAA) had its target price lifted by Evercore ISI from $155.00 to $159.00 in a research report sent to investors on Monday,Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the company. StockNews.com upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Scotiabank dropped their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research note on Tuesday, December 17th. Wells Fargo & Company dropped their price objective on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, Royal Bank of Canada increased their price objective on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $166.00.

Mid-America Apartment Communities Stock Down 0.1 %

Shares of MAA stock opened at $155.87 on Monday. The stock has a market cap of $18.22 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91. Mid-America Apartment Communities has a one year low of $121.51 and a one year high of $167.39. The stock has a fifty day moving average price of $153.35 and a 200 day moving average price of $155.59. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping 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%. Analysts predict that Mid-America Apartment Communities will post 8.86 earnings per share 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. 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 yield of 3.89%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date was Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 135.27%.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAA. Ashton Thomas Securities LLC bought a new position in Mid-America Apartment Communities during the third quarter worth about $25,000. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the third quarter worth about $32,000. Catalyst Capital Advisors LLC bought a new position in Mid-America Apartment Communities during the third quarter worth about $37,000. IFP Advisors Inc boosted its holdings in Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 68 shares during the last quarter. Finally, Quarry LP bought a new position in Mid-America Apartment Communities during the third quarter worth about $45,000. Institutional investors own 93.60% of the company’s stock.

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.