Swedbank AB Acquires 5,178 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Swedbank AB grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 203,587 shares of the real estate investment trust’s stock after acquiring an additional 5,178 shares during the quarter. Swedbank AB’s holdings in Mid-America Apartment Communities were worth $32,350,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MAA. Creative Planning grew its stake in Mid-America Apartment Communities by 12.2% in the third quarter. Creative Planning now owns 17,760 shares of the real estate investment trust’s stock worth $2,822,000 after purchasing an additional 1,928 shares during the period. VitalStone Financial LLC purchased a new stake in Mid-America Apartment Communities in the third quarter worth $181,000. Gilman Hill Asset Management LLC grew its stake in Mid-America Apartment Communities by 4.9% in the third quarter. Gilman Hill Asset Management LLC now owns 3,849 shares of the real estate investment trust’s stock worth $612,000 after purchasing an additional 180 shares during the period. Exchange Traded Concepts LLC grew its stake in Mid-America Apartment Communities by 386.3% in the third quarter. Exchange Traded Concepts LLC now owns 7,294 shares of the real estate investment trust’s stock worth $1,159,000 after purchasing an additional 5,794 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in 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 purchasing an additional 2,000 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Piper Sandler increased their target price on 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. The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price on the stock. Finally, Wedbush increased their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $159.91.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $153.91 on Thursday. The company has a current ratio of 0.12, a quick 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 stock has a 50-day moving average price of $158.16 and a 200 day moving average price of $144.08. The stock has a market capitalization of $17.98 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.47 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

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

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.