Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) – Investment analysts at Zacks Research raised their Q3 2023 earnings per share estimates for shares of Mid-America Apartment Communities in a research note issued on Wednesday, August 9th. Zacks Research analyst N. Dass now expects that the real estate investment trust will earn $2.26 per share for the quarter, up from their prior estimate of $2.25. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $9.13 per share. Zacks Research also issued estimates for Mid-America Apartment Communities’ Q4 2023 earnings at $2.31 EPS, FY2023 earnings at $9.12 EPS, Q1 2024 earnings at $2.28 EPS, Q3 2024 earnings at $2.27 EPS, Q4 2024 earnings at $2.30 EPS, FY2024 earnings at $9.13 EPS, Q1 2025 earnings at $2.41 EPS, Q2 2025 earnings at $2.45 EPS and FY2025 earnings at $9.88 EPS.
A number of other analysts also recently weighed in on MAA. Barclays cut their target price on Mid-America Apartment Communities from $192.00 to $181.00 in a research report on Wednesday, May 31st. Truist Financial boosted their price target on Mid-America Apartment Communities from $159.00 to $174.00 in a report on Friday, July 7th. 888 reissued a “maintains” rating on shares of Mid-America Apartment Communities in a report on Friday, May 19th. StockNews.com initiated coverage on Mid-America Apartment Communities in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Mizuho lowered their price target on Mid-America Apartment Communities from $176.00 to $159.00 in a report on Friday, May 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $167.90.
Mid-America Apartment Communities Stock Performance
NYSE:MAA opened at $144.27 on Friday. The stock has a fifty day moving average price of $151.52 and a 200-day moving average price of $153.43. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 7.98 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.26 and a current ratio of 0.26. Mid-America Apartment Communities has a fifty-two week low of $138.68 and a fifty-two week high of $190.17.
Institutional Investors Weigh In On Mid-America Apartment Communities
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Mid-America Apartment Communities by 4.9% during the 2nd quarter. BlackRock Inc. now owns 11,923,401 shares of the real estate investment trust’s stock valued at $1,810,688,000 after purchasing an additional 560,935 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Mid-America Apartment Communities by 7.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,490,414 shares of the real estate investment trust’s stock valued at $530,054,000 after purchasing an additional 239,384 shares in the last quarter. Norges Bank bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $543,026,000. Geode Capital Management LLC boosted its position in shares of Mid-America Apartment Communities by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,705,060 shares of the real estate investment trust’s stock valued at $409,812,000 after purchasing an additional 69,858 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Mid-America Apartment Communities by 6.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,466,123 shares of the real estate investment trust’s stock valued at $374,506,000 after purchasing an additional 147,372 shares in the last quarter. Institutional investors own 93.55% of the company’s stock.
Insider Buying and Selling at Mid-America Apartment Communities
In related news, Director William Reid Sanders purchased 3,000 shares of Mid-America Apartment Communities stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $146.84 per share, for a total transaction of $440,520.00. Following the transaction, the director now owns 24,627 shares of the company’s stock, valued at approximately $3,616,228.68. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.33% of the company’s stock.
Mid-America Apartment Communities Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were given a $1.40 dividend. The ex-dividend date was Thursday, July 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.88%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 109.38%.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.
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