Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,886 shares of the real estate investment trust’s stock after acquiring an additional 7,020 shares during the period. Victory Capital Management Inc.’s holdings in Mid-America Apartment Communities were worth $6,815,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MAA. QRG Capital Management Inc. raised its stake in Mid-America Apartment Communities by 12.8% during the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after purchasing an additional 3,451 shares during the period. Swedbank AB acquired a new stake in Mid-America Apartment Communities during the 1st quarter worth about $26,107,000. Prosperity Consulting Group LLC acquired a new position in Mid-America Apartment Communities in the 2nd quarter valued at approximately $2,572,000. Portside Wealth Group LLC acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at $808,000. Finally, Bank of Montreal Can increased its position in Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after purchasing an additional 8,984 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Trading Up 0.6 %

NYSE:MAA opened at $158.67 on Friday. The firm’s 50 day moving average is $156.87 and its 200 day moving average is $148.77. Mid-America Apartment Communities, Inc. has a 12 month low of $121.38 and a 12 month high of $167.39. The stock has a market capitalization of $18.55 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 2.55 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MAA shares. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Piper Sandler lifted their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. StockNews.com lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $161.64.

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.