Mid-America Apartment Communities (NYSE:MAA) Price Target Raised to $140.00

by · The Cerbat Gem

Mid-America Apartment Communities (NYSE:MAAFree Report) had its price target upped by Cantor Fitzgerald from $132.00 to $140.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised shares of Mid-America Apartment Communities to a “hold” rating in a research report on Wednesday, July 22nd. Truist Financial lifted their price target on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Citigroup reaffirmed a “market outperform” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, June 10th. Mizuho increased their price objective on Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, UBS Group lowered their price objective on Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $145.38.

Check Out Our Latest Research Report on MAA

Mid-America Apartment Communities Stock Up 1.0%

NYSE:MAA opened at $134.60 on Monday. Mid-America Apartment Communities has a fifty-two week low of $120.30 and a fifty-two week high of $146.41. The stock has a market capitalization of $15.62 billion, a P/E ratio of 39.36 and a beta of 0.73. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. The company’s 50-day simple moving average is $135.43 and its 200-day simple moving average is $131.72.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were given a dividend of $1.53 per share. This represents a $6.12 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Wednesday, July 15th. Mid-America Apartment Communities’s payout ratio is currently 178.95%.

Insider Activity

In related news, Director Tamara D. Fischer purchased 1,100 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of $128.55 per share, with a total value of $141,405.00. Following the completion of the acquisition, the director owned 1,100 shares in the company, valued at approximately $141,405. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of large investors have recently bought and sold shares of MAA. Tema ETFs LLC raised its position in Mid-America Apartment Communities by 76.7% during the 2nd quarter. Tema ETFs LLC now owns 2,486 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 1,079 shares during the last quarter. LifeGoal Investments LLC purchased a new position in shares of Mid-America Apartment Communities during the second quarter worth $255,000. Elevation Wealth Partners LLC lifted its position in Mid-America Apartment Communities by 593.1% during the second quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 172 shares during the period. Czech National Bank lifted its position in Mid-America Apartment Communities by 4.1% during the second quarter. Czech National Bank now owns 33,128 shares of the real estate investment trust’s stock valued at $4,603,000 after purchasing an additional 1,291 shares during the period. Finally, Fermata Advisors LLC purchased a new stake in Mid-America Apartment Communities in the second quarter valued at $201,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

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Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.

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