Park Avenue Securities LLC Has $335,000 Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Park Avenue Securities LLC grew its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,108 shares of the real estate investment trust’s stock after purchasing an additional 138 shares during the quarter. Park Avenue Securities LLC’s holdings in Mid-America Apartment Communities were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. DecisionPoint Financial LLC acquired a new position in Mid-America Apartment Communities in the first quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new position in Mid-America Apartment Communities during the second quarter worth $26,000. Mather Group LLC. acquired a new stake in Mid-America Apartment Communities in the first quarter worth $32,000. Versant Capital Management Inc increased its stake in Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares in the last quarter. Finally, UMB Bank n.a. raised 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 valued at $34,000 after purchasing an additional 108 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $153.41 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $157.91 and a two-hundred day simple moving average of $143.70. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $167.39. The firm has a market cap of $17.92 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 2.47 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MAA shares. 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 price objective for the company. Royal Bank of Canada boosted 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 research note on Friday, August 2nd. Piper Sandler lifted their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price on the stock. Finally, Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the company from $144.00 to $189.00 in a research note on Monday, August 12th. One equities research 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.