GAMMA Investing LLC Raises Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

GAMMA Investing LLC increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 17.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,893 shares of the real estate investment trust’s stock after purchasing an additional 281 shares during the quarter. GAMMA Investing LLC’s holdings in Mid-America Apartment Communities were worth $301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DecisionPoint Financial LLC purchased a new stake in Mid-America Apartment Communities in the first quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities in the second quarter worth approximately $26,000. Mather Group LLC. purchased a new stake in Mid-America Apartment Communities in the first quarter worth approximately $32,000. Versant Capital Management Inc boosted 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 acquiring an additional 215 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake 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 worth $34,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $152.21 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $17.78 billion, a P/E ratio of 31.91, a P/E/G ratio of 2.63 and a beta of 0.88. The firm’s fifty day moving average is $157.84 and its two-hundred day moving average is $143.35. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 3.86%. The ex-dividend date is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is 123.27%.

Analysts Set New Price Targets

MAA has been the topic of several analyst reports. Wedbush lifted their price target on shares of 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. Scotiabank lifted their price target on shares of 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. JMP Securities raised their price objective on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.