Nisa Investment Advisors LLC Cuts Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Nisa Investment Advisors LLC trimmed its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,581 shares of the real estate investment trust’s stock after selling 7,154 shares during the period. Nisa Investment Advisors LLC’s holdings in Mid-America Apartment Communities were worth $17,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAA. Diversified Trust Co increased its position in Mid-America Apartment Communities by 5.8% in the first quarter. Diversified Trust Co now owns 3,259 shares of the real estate investment trust’s stock worth $429,000 after purchasing an additional 180 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Mid-America Apartment Communities by 1,117.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 122,471 shares of the real estate investment trust’s stock worth $16,115,000 after buying an additional 112,411 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Mid-America Apartment Communities by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 33,599 shares of the real estate investment trust’s stock worth $4,421,000 after buying an additional 100 shares in the last quarter. Insight Folios Inc increased its holdings in shares of Mid-America Apartment Communities by 6.0% in the 1st quarter. Insight Folios Inc now owns 1,808 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 103 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of Mid-America Apartment Communities by 172.5% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 16,154 shares of the real estate investment trust’s stock valued at $2,126,000 after buying an additional 10,227 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA opened at $150.97 on Wednesday. The firm’s 50 day simple moving average is $158.32 and its 200-day simple moving average is $145.69. 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 one year low of $115.56 and a one year high of $167.39. The firm has a market cap of $17.64 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

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 dividend yield of 3.89%. The ex-dividend date is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is 123.27%.

Wall Street Analyst Weigh In

Several research analysts recently commented on MAA shares. Piper Sandler lifted their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $144.00 to $189.00 in a report on Monday, August 12th. BNP Paribas started coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target on the stock. Truist Financial lifted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada boosted 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.75.

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.