Exchange Traded Concepts LLC Acquires 5,794 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Exchange Traded Concepts LLC increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 386.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,294 shares of the real estate investment trust’s stock after buying an additional 5,794 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Mid-America Apartment Communities were worth $1,159,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MAA. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Mid-America Apartment Communities by 475.1% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,421 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 2,000 shares during the last quarter. Virginia Wealth Management Group Inc. lifted its stake in Mid-America Apartment Communities by 27.2% in the 3rd quarter. Virginia Wealth Management Group Inc. now owns 30,280 shares of the real estate investment trust’s stock valued at $4,811,000 after purchasing an additional 6,472 shares during the last quarter. Tobam boosted its position in Mid-America Apartment Communities by 29.4% in the third quarter. Tobam now owns 414 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 94 shares in the last quarter. Pensionfund DSM Netherlands grew its stake in shares of Mid-America Apartment Communities by 3.9% during the third quarter. Pensionfund DSM Netherlands now owns 26,340 shares of the real estate investment trust’s stock worth $4,185,000 after buying an additional 1,000 shares during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd acquired a new position in shares of Mid-America Apartment Communities during the third quarter worth $13,149,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $153.91 on Thursday. The firm has a market cap of $17.98 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.47 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39. The business’s 50 day moving average price is $158.16 and its two-hundred day moving average price is $144.08. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

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 paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.82%. The ex-dividend date is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAA. JMP Securities raised their price objective 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. 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 research note on Monday, August 26th. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective on the stock. Royal Bank of Canada raised their target price on Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Wedbush upped their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus target price of $159.91.

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.