abrdn plc Acquires 12,318 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

abrdn plc boosted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,586 shares of the real estate investment trust’s stock after acquiring an additional 12,318 shares during the quarter. abrdn plc’s holdings in Mid-America Apartment Communities were worth $13,460,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MAA. Diversified Trust Co lifted its position in Mid-America Apartment Communities by 5.8% in the 1st quarter. Diversified Trust Co now owns 3,259 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 180 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $16,115,000 after acquiring an additional 112,411 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Mid-America Apartment Communities by 13.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,480 shares of the real estate investment trust’s stock valued at $3,103,000 after acquiring an additional 2,727 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Mid-America Apartment Communities by 33.3% in the 1st quarter. BNP Paribas Financial Markets now owns 192,444 shares of the real estate investment trust’s stock valued at $25,322,000 after acquiring an additional 48,095 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Mid-America Apartment Communities by 0.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,935 shares of the real estate investment trust’s stock worth $2,886,000 after buying an additional 201 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MAA. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Friday. Scotiabank lifted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. The Goldman Sachs Group began 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 target price on the stock. Finally, JMP Securities lifted their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.69.

Mid-America Apartment Communities Stock Down 1.4 %

Mid-America Apartment Communities stock opened at $149.17 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $118.68 and a 1-year high of $167.39. The firm has a market capitalization of $17.43 billion, a price-to-earnings ratio of 33.67, a P/E/G ratio of 2.45 and a beta of 0.88. 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 firm has a 50 day simple moving average of $158.25 and a 200 day simple moving average of $145.78.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio is 132.73%.

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.