KeyCorp Raises Mid-America Apartment Communities (NYSE:MAA) Price Target to $125.00

Mid-America Apartment Communities (NYSE:MAA) had its price target upped by KeyCorp from $112.00 to $125.00 in a research note published on Wednesday, The Fly reports. They currently have an overweight rating on the real estate investment trust’s stock. KeyCorp also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $6.27 EPS and FY2020 earnings at $6.49 EPS.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada set a €475.00 ($552.33) price target on Rational and gave the company a sell rating in a research note on Monday, May 20th. Scotiabank lowered 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 research note on Tuesday, July 9th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. Zacks Investment Research lowered Hanger from a hold rating to a sell rating in a research note on Tuesday, May 28th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $54.00 price target on shares of Apartment Investment and Management in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Mid-America Apartment Communities has an average rating of Buy and an average target price of $112.18.

NYSE MAA opened at $120.70 on Wednesday. The stock’s fifty day moving average is $117.77. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 4.96 and a beta of 0.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.14. Mid-America Apartment Communities has a fifty-two week low of $91.21 and a fifty-two week high of $123.88.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The company had revenue of $401.17 million for the quarter, compared to analyst estimates of $400.91 million. During the same period last year, the firm posted $1.36 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Mid-America Apartment Communities will post 6.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, July 12th. Mid-America Apartment Communities’s payout ratio is 63.58%.

In related news, Director Claude B. Nielsen sold 6,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $109.83, for a total transaction of $713,895.00. Following the transaction, the director now owns 12,117 shares of the company’s stock, valued at approximately $1,330,810.11. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in shares of Mid-America Apartment Communities by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,476 shares of the real estate investment trust’s stock valued at $1,002,000 after acquiring an additional 241 shares during the period. Stephens Inc. AR boosted its position in shares of Mid-America Apartment Communities by 14.2% in the fourth quarter. Stephens Inc. AR now owns 2,726 shares of the real estate investment trust’s stock valued at $261,000 after acquiring an additional 340 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Mid-America Apartment Communities by 7.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,185 shares of the real estate investment trust’s stock valued at $591,000 after acquiring an additional 408 shares during the period. Advisor Group Inc. boosted its position in shares of Mid-America Apartment Communities by 62.7% in the fourth quarter. Advisor Group Inc. now owns 3,346 shares of the real estate investment trust’s stock valued at $322,000 after acquiring an additional 1,290 shares during the period. Finally, United Services Automobile Association boosted its position in shares of Mid-America Apartment Communities by 1.2% in the fourth quarter. United Services Automobile Association now owns 57,393 shares of the real estate investment trust’s stock valued at $5,493,000 after acquiring an additional 667 shares during the period. 92.47% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Company Profile

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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