Raymond James & Associates Increases Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Raymond James & Associates grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 192,705 shares of the real estate investment trust’s stock after purchasing an additional 42,491 shares during the period. Raymond James & Associates owned approximately 0.16% of Mid-America Apartment Communities worth $30,621,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Capital Investment Advisors LLC grew its holdings in Mid-America Apartment Communities by 7.0% during the third quarter. Capital Investment Advisors LLC now owns 46,030 shares of the real estate investment trust’s stock worth $7,314,000 after acquiring an additional 3,028 shares during the period. West Oak Capital LLC boosted its position in shares of Mid-America Apartment Communities by 29.2% during the 3rd quarter. West Oak Capital LLC now owns 2,390 shares of the real estate investment trust’s stock worth $380,000 after purchasing an additional 540 shares in the last quarter. Vert Asset Management LLC grew its stake in shares of Mid-America Apartment Communities by 0.7% during the 3rd quarter. Vert Asset Management LLC now owns 46,875 shares of the real estate investment trust’s stock worth $7,448,000 after purchasing an additional 348 shares during the period. Stonegate Investment Group LLC increased its holdings in shares of Mid-America Apartment Communities by 0.7% in the 3rd quarter. Stonegate Investment Group LLC now owns 92,328 shares of the real estate investment trust’s stock valued at $14,671,000 after purchasing an additional 613 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of Mid-America Apartment Communities by 6.4% in the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 87 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $156.52 on Thursday. The company has a market cap of $18.29 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.47 and a beta of 0.88. The business has a fifty day simple moving average of $158.28 and a 200-day simple moving average of $145.00. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $167.39. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Wall Street Analyst Weigh In

MAA has been the topic of several recent analyst reports. Truist Financial upped their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. BNP Paribas began coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. UBS Group lifted their price objective on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a report on Thursday, July 18th. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their target price for the company from $144.00 to $189.00 in a report on Monday, August 12th. Finally, Scotiabank lifted their price target on Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.75.

Mid-America Apartment Communities Profile

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.