Mid-America Apartment Communities Inc (NYSE:MAA) – Research analysts at SunTrust Banks dropped their FY2018 earnings estimates for Mid-America Apartment Communities in a report issued on Tuesday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings per share of $6.09 for the year, down from their prior forecast of $6.21. SunTrust Banks has a “Buy” rating and a $102.00 price objective on the stock. SunTrust Banks also issued estimates for Mid-America Apartment Communities’ Q1 2019 earnings at $1.59 EPS, Q2 2019 earnings at $1.62 EPS, Q3 2019 earnings at $1.66 EPS, Q4 2019 earnings at $1.65 EPS, FY2019 earnings at $6.54 EPS, FY2020 earnings at $6.82 EPS and FY2022 earnings at $7.09 EPS.
Several other brokerages also recently commented on MAA. Zacks Investment Research downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. ValuEngine downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Jefferies Group reissued a “hold” rating and issued a $99.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, February 5th. Barclays dropped their price objective on shares of Mid-America Apartment Communities from $113.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Finally, Mizuho set a $91.00 price objective on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a research note on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $106.15.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded up $1.50 during trading on Thursday, hitting $87.41. 191,976 shares of the stock were exchanged, compared to its average volume of 842,375. Mid-America Apartment Communities has a 12 month low of $85.30 and a 12 month high of $110.95. The company has a market cap of $9,716.25, a P/E ratio of 30.04, a PEG ratio of 2.02 and a beta of 0.28.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were given a dividend of $0.9225 per share. The ex-dividend date of this dividend was Thursday, January 11th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. This represents a $3.69 annualized dividend and a dividend yield of 4.22%. Mid-America Apartment Communities’s dividend payout ratio is 129.02%.
In other news, Director Gary Shorb acquired 500 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $86.53 per share, for a total transaction of $43,265.00. Following the completion of the transaction, the director now directly owns 4,750 shares in the company, valued at approximately $411,017.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Reid Sanders acquired 4,100 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were purchased at an average price of $90.98 per share, with a total value of $373,018.00. Following the completion of the transaction, the director now owns 13,109 shares of the company’s stock, valued at $1,192,656.82. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 4,716 shares of company stock valued at $426,200. 1.25% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Mid-America Apartment Communities by 4.2% in the fourth quarter. BlackRock Inc. now owns 11,003,658 shares of the real estate investment trust’s stock worth $1,106,527,000 after purchasing an additional 440,089 shares during the period. Alliancebernstein L.P. grew its holdings in Mid-America Apartment Communities by 1.7% in the fourth quarter. Alliancebernstein L.P. now owns 3,109,252 shares of the real estate investment trust’s stock worth $312,666,000 after purchasing an additional 50,626 shares during the period. JPMorgan Chase & Co. grew its holdings in Mid-America Apartment Communities by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 2,862,188 shares of the real estate investment trust’s stock worth $303,363,000 after purchasing an additional 391,336 shares during the period. Daiwa Securities Group Inc. grew its holdings in Mid-America Apartment Communities by 246.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,758,223 shares of the real estate investment trust’s stock worth $277,366,000 after purchasing an additional 1,961,027 shares during the period. Finally, Cohen & Steers Inc. grew its holdings in Mid-America Apartment Communities by 197.0% in the third quarter. Cohen & Steers Inc. now owns 2,025,767 shares of the real estate investment trust’s stock worth $216,514,000 after purchasing an additional 1,343,626 shares during the period. Institutional investors own 93.36% of the company’s stock.
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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.
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