Mid-America Apartment Communities, Inc. (MAA) Rating Reiterated by Robert W. Baird

Robert W. Baird restated their buy rating on shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in a research report released on Friday morning. Robert W. Baird currently has a $110.00 price objective on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of Mid-America Apartment Communities from a hold rating to a buy rating in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a buy rating and issued a $112.00 price objective on shares of Mid-America Apartment Communities in a report on Wednesday, August 9th. BMO Capital Markets reaffirmed a buy rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. Jefferies Group LLC reissued a buy rating and set a $120.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, September 10th. Finally, ValuEngine raised shares of Mid-America Apartment Communities from a hold rating to a buy rating in a research note on Friday, September 8th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $110.33.

Shares of Mid-America Apartment Communities (NYSE:MAA) opened at $106.03 on Friday. Mid-America Apartment Communities has a twelve month low of $87.59 and a twelve month high of $110.95. The firm has a market cap of $11,984.24, a PE ratio of 17.76, a P/E/G ratio of 2.55 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The business had revenue of $384.60 million for the quarter, compared to analysts’ expectations of $386.96 million. During the same quarter last year, the company earned $1.47 EPS. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. research analysts predict that Mid-America Apartment Communities will post 5.91 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th were paid a $0.87 dividend. The ex-dividend date was Thursday, October 12th. This represents a $3.48 annualized dividend and a dividend yield of 3.28%. Mid-America Apartment Communities’s dividend payout ratio is currently 156.76%.

In other Mid-America Apartment Communities news, Director William Reid Sanders acquired 7,000 shares of the stock in a transaction dated Friday, October 27th. The shares were bought at an average price of $100.11 per share, with a total value of $700,770.00. Following the purchase, the director now directly owns 8,209 shares of the company’s stock, valued at approximately $821,802.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total transaction of $730,768.48. Following the completion of the transaction, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The disclosure for this sale can be found here. Insiders own 1.25% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MAA. Brookfield Asset Management Inc. acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $158,747,000. Alliancebernstein L.P. grew its stake in shares of Mid-America Apartment Communities by 90.7% in the 2nd quarter. Alliancebernstein L.P. now owns 2,406,670 shares of the real estate investment trust’s stock worth $253,615,000 after purchasing an additional 1,144,768 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Mid-America Apartment Communities by 3,863.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 797,196 shares of the real estate investment trust’s stock worth $85,205,000 after purchasing an additional 777,081 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Mid-America Apartment Communities by 4,202.0% in the 2nd quarter. Janus Henderson Group PLC now owns 565,631 shares of the real estate investment trust’s stock worth $59,607,000 after purchasing an additional 552,483 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Mid-America Apartment Communities by 31.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,884,990 shares of the real estate investment trust’s stock worth $198,640,000 after purchasing an additional 451,849 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

Analyst Recommendations for Mid-America Apartment Communities (NYSE:MAA)

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