Growing Through Challenges? – Mid-America Apartment Communities Inc. (NYSE: MAA)

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    APG Asset Management US, Inc. recently announced the acquisition of new stake in Mid-America Apartment Communities Inc. (NYSE:MAA). The institutional investor has increased its shareholding in the Real Estate company by 7.64% to 3.56 million shares with purchase of 0.25 million shares. This fresh investment now brings its stake to 3.12% valued currently at $414.82 million. In addition, Fidelity Management & Research Co. raised its holdings by 2.4 million to 3.15 million shares. And Geode Capital Management LLC has lifted its position by 0.23% or 5474.0 shares – to 2.34 million shares.

    With over 0.65 million Mid-America Apartment Communities Inc. (MAA) shares trading Wednesday and a closing price of $113.82 on the day, the dollar volume was approximately $73.58 million. The shares have shown a negative weekly performance of -0.74% and its price on 07/08/20 lost nearly -0.65%. Currently, there are 114.11M common shares owned by the public and among those 113.56M shares have been available to trade.

    Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 106,920 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 77,776 shares.

    The top 3 mutual fund holders in Mid-America Apartment Communities Inc. are Vanguard Real Estate Index Fund, Stichting Pensioenfonds ABP (Glob, and Vanguard Total Stock Market Index. Vanguard Real Estate Index Fund owns 5.08 million shares of the company’s stock, all valued at over $591.59 million. The company sold -0.13 million shares recently to bring their total holdings to about 4.45% of the shares outstanding. Stichting Pensioenfonds ABP (Glob bought 0.34 million shares to see its total holdings expand to 3.4 million shares valued at over $395.23 million and representing 2.97% of the shares outstanding. Vanguard Total Stock Market Index sold 16671.0 shares to bring its total holdings to over 3.29 million shares at a value of $382.49 million. Vanguard Total Stock Market Index now owns shares totaling to 2.88% of the shares outstanding.

    Shares of Mid-America Apartment Communities Inc. (NYSE: MAA) opened at $114.57, down $0.0 from a prior closing price of $114.57. However, the script later closed the day at $113.82, down -0.65%. The company’s stock has a 5-day price change of -0.74% and 9.66% over the past three months. MAA shares are trading -13.68% year to date (YTD), with the 12-month market performance down to -7.07% lower. It has a 12-month low price of $82.00 and touched a high of $148.88 over the same period. Currently, 0.65 million shares have been traded, compared to an average intraday trading volume of 806.65K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.98%, -0.92%, and -9.28% respectively.

    Institutional ownership of Mid-America Apartment Communities Inc. (NYSE: MAA) shares accounts for 94.60% of the company’s 114.11M shares outstanding. Mutual fund holders own 39.60%, while other institutional holders and individual stakeholders account for 55.14% and 1.54% respectively.

    It has a market capitalization of $13.03B and a beta (3y monthly) value of 0.64. The stock’s trailing 12-month PE ratio is 42.71, while the earnings-per-share (ttm) stands at $2.67. The company has a PEG of 6.10 and a debt-to-equity ratio of 0.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.59% over the week and 2.98% over the month.

    Analysts forecast that Mid-America Apartment Communities Inc. (MAA) will achieve an EPS of $0.54 for the current quarter, $0.49 for the next quarter and $2.18 for 2021. The lowest estimate earnings-per-share for the quarter is $0.48 while analysts give the company a high EPS estimate of $0.62. Comparatively, EPS for the current quarter was $0.53 a year ago. Earnings per share for the fiscal year are expected to increase by 53.80%, and 15.54% over the next financial year. EPS should shrink at an annualized rate of 7.00% over the next five years, compared to 9.30% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Mid-America Apartment Communities Inc. (MAA) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 11 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the MAA, a number of firms have released research notes about the stock. SunTrust stated their Hold rating for the stock in a research note on June 18, 2020, with the firm’s price target at $119. BMO Capital Markets coverage for the Mid-America Apartment Communities Inc. (MAA) stock in a research note released on June 08, 2020 offered a Outperform rating with a price target of $140. Raymond James was of a view on May 18, 2020 that the stock is Outperform, while BMO Capital Markets gave the stock Market Perform rating on April 08, 2020, issuing a price target of $149- $110. Mizuho on their part issued Neutral rating on January 15, 2020.

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