Duquesne Family Office LLC Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Duquesne Family Office LLC acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the second quarter, HoldingsChannel reports. The firm acquired 644,190 shares of the real estate investment trust’s stock, valued at approximately $91,868,000. Mid-America Apartment Communities accounts for approximately 3.1% of Duquesne Family Office LLC’s portfolio, making the stock its 10th biggest position.

Several other large investors also recently made changes to their positions in MAA. Johnson Investment Counsel Inc. lifted its stake in Mid-America Apartment Communities by 1.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock valued at $996,000 after purchasing an additional 77 shares during the last quarter. Telos Capital Management Inc. raised its stake in Mid-America Apartment Communities by 0.8% in the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after buying an additional 78 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Mid-America Apartment Communities by 5.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 90 shares during the last quarter. Covestor Ltd boosted its stake in shares of Mid-America Apartment Communities by 12.3% during the 1st quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 93 shares during the period. Finally, Czech National Bank boosted its stake in shares of Mid-America Apartment Communities by 0.5% during the 1st quarter. Czech National Bank now owns 20,536 shares of the real estate investment trust’s stock worth $2,702,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

MAA opened at $161.62 on Thursday. 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, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39. The firm has a market cap of $18.89 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 2.63 and a beta of 0.88. The business’s fifty day moving average is $155.08 and its 200-day moving average is $141.58.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MAA shares. Scotiabank increased their price target on Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. UBS Group raised their target price on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research note on Thursday, July 18th. Truist Financial lifted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Royal Bank of Canada increased their price target on shares of 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. Finally, Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $144.00 to $189.00 in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $159.91.

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.