Creative Planning Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Creative Planning increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,760 shares of the real estate investment trust’s stock after buying an additional 1,928 shares during the period. Creative Planning’s holdings in Mid-America Apartment Communities were worth $2,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $26,000. DecisionPoint Financial LLC purchased a new stake in Mid-America Apartment Communities during the 1st quarter valued at $26,000. Versant Capital Management Inc boosted its stake in Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares during the last quarter. UMB Bank n.a. boosted its stake in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in Mid-America Apartment Communities by 305.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 238 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock opened at $153.32 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The stock’s fifty day moving average is $158.34 and its 200 day moving average is $145.29. The stock has a market cap of $17.92 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.48 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $167.39.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.47 per share. The ex-dividend date is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.84%. Mid-America Apartment Communities’s dividend payout ratio is presently 133.94%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their target price for the company from $144.00 to $189.00 in a research note on Monday, August 12th. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a report on Monday, October 21st. Royal Bank of Canada increased their price target on Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. UBS Group increased their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a report on Thursday, July 18th. Finally, JMP Securities increased 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.75.

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.