Mid-America Apartment Communities (NYSE:MAA) Reaches New 1-Year High at $134.24

Mid-America Apartment Communities Inc (NYSE:MAA)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $134.24 and last traded at $133.90, with a volume of 102190 shares changing hands. The stock had previously closed at $133.42.

Several equities analysts recently issued reports on the company. ValuEngine cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks raised their price target on Mid-America Apartment Communities to $130.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Scotiabank cut Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $114.00 to $107.00 in a report on Tuesday, July 9th. Capital One Financial reiterated an “equal weight” rating on shares of Mid-America Apartment Communities in a report on Monday, September 16th. Finally, KeyCorp raised their price target on Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus price target of $118.29.

The firm has a 50 day simple moving average of $129.93 and a two-hundred day simple moving average of $119.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 5.42 and a beta of 0.33.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, October 11th. Mid-America Apartment Communities’s payout ratio is 63.58%.

In other Mid-America Apartment Communities news, Director David P. Stockert sold 2,047 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $120.84, for a total value of $247,359.48. Following the transaction, the director now owns 65,240 shares of the company’s stock, valued at $7,883,601.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MAA. Nuveen Asset Management LLC lifted its stake in Mid-America Apartment Communities by 333.6% in the second quarter. Nuveen Asset Management LLC now owns 822,353 shares of the real estate investment trust’s stock valued at $96,841,000 after buying an additional 632,686 shares during the period. Centersquare Investment Management LLC lifted its stake in Mid-America Apartment Communities by 157,752.2% in the second quarter. Centersquare Investment Management LLC now owns 353,589 shares of the real estate investment trust’s stock valued at $41,639,000 after buying an additional 353,365 shares during the period. Vanguard Group Inc. lifted its stake in Mid-America Apartment Communities by 1.9% in the second quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock valued at $2,223,484,000 after buying an additional 346,064 shares during the period. Commonwealth Bank of Australia lifted its stake in Mid-America Apartment Communities by 207,883.7% in the second quarter. Commonwealth Bank of Australia now owns 345,253 shares of the real estate investment trust’s stock valued at $40,653,000 after buying an additional 345,087 shares during the period. Finally, FMR LLC raised its position in shares of Mid-America Apartment Communities by 28.2% during the first quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock worth $147,839,000 after purchasing an additional 297,563 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

About Mid-America Apartment Communities (NYSE:MAA)

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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