Farmers Trust Co. Has $6.42 Million Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Farmers Trust Co. decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 16.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 40,404 shares of the real estate investment trust’s stock after selling 8,034 shares during the period. Mid-America Apartment Communities comprises about 1.2% of Farmers Trust Co.’s investment portfolio, making the stock its 22nd biggest holding. Farmers Trust Co.’s holdings in Mid-America Apartment Communities were worth $6,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DecisionPoint Financial LLC acquired a new position in Mid-America Apartment Communities in the 1st quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the second quarter valued at about $26,000. Mather Group LLC. acquired a new position in Mid-America Apartment Communities in the 1st quarter worth about $32,000. Versant Capital Management Inc raised its stake in shares of 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 worth $32,000 after purchasing an additional 215 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of 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 buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MAA. BNP Paribas initiated coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective on the stock. Piper Sandler raised their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $138.00 to $174.00 in a report on Monday, August 26th. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their target price for the company from $144.00 to $189.00 in a report on Monday, August 12th. Finally, Scotiabank upped 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 equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $159.91.

Mid-America Apartment Communities Trading Down 1.2 %

Shares of MAA opened at $155.15 on Friday. The stock’s 50-day moving average price is $156.47 and its 200 day moving average price is $142.49. 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, Inc. has a 12-month low of $115.56 and a 12-month high of $167.39. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 2.63 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given 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 3.79%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

Mid-America Apartment Communities Company 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.