Chesley Taft & Associates LLC Buys New Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Chesley Taft & Associates LLC purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,753 shares of the real estate investment trust’s stock, valued at approximately $755,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Mid-America Apartment Communities by 3.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 100,214 shares of the real estate investment trust’s stock worth $13,475,000 after acquiring an additional 3,114 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Mid-America Apartment Communities by 214.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 9,328 shares of the real estate investment trust’s stock worth $1,254,000 after purchasing an additional 6,362 shares during the last quarter. Prudential PLC lifted its stake in Mid-America Apartment Communities by 38.8% in the fourth quarter. Prudential PLC now owns 5,638 shares of the real estate investment trust’s stock worth $758,000 after purchasing an additional 1,575 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at about $2,784,000. Finally, Blackstone Inc. grew its stake in shares of Mid-America Apartment Communities by 1.0% during the fourth quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock valued at $277,507,000 after buying an additional 20,000 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Down 0.3 %

Shares of Mid-America Apartment Communities stock opened at $153.04 on Wednesday. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $167.39. The firm has a market cap of $17.88 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.63 and a beta of 0.88. The company has a 50-day moving average of $157.46 and a 200 day moving average of $143.22. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.84%. Mid-America Apartment Communities’s payout ratio is 123.27%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Thursday, June 13th. Piper Sandler increased their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, JMP Securities boosted their price target on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus price target of $159.91.

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.