MML Investors Services LLC Acquires 1,064 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

MML Investors Services LLC grew its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 14.6% in the 3rd quarter, Holdings Channel reports. The fund owned 8,331 shares of the real estate investment trust’s stock after purchasing an additional 1,064 shares during the quarter. MML Investors Services LLC’s holdings in Mid-America Apartment Communities were worth $1,324,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Mid-America Apartment Communities in the third quarter worth about $25,000. EdgeRock Capital LLC bought a new position in shares of Mid-America Apartment Communities during the second quarter worth about $26,000. Activest Wealth Management bought a new position in shares of Mid-America Apartment Communities during the third quarter worth about $32,000. UMB Bank n.a. grew its holdings in shares of Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Mid-America Apartment Communities during the third quarter worth about $37,000. 93.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of research reports. BNP Paribas initiated coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective for the company. Piper Sandler increased their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada decreased their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. 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 research note on Tuesday, September 10th. Finally, The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $163.76.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $150.87 on Thursday. The stock has a market capitalization of $17.63 billion, a PE ratio of 34.06, a P/E/G ratio of 2.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day moving average price of $156.99 and a two-hundred day moving average price of $152.24. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data 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 company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. Mid-America Apartment Communities’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 4.02%. Mid-America Apartment Communities’s payout ratio is currently 136.79%.

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.