Financial Advocates Investment Management Raises Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Financial Advocates Investment Management boosted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,308 shares of the real estate investment trust’s stock after buying an additional 93 shares during the period. Financial Advocates Investment Management’s holdings in Mid-America Apartment Communities were worth $367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAA. Duquesne Family Office LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $91,868,000. Long Pond Capital LP lifted its position in Mid-America Apartment Communities by 550.9% during the second quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock valued at $92,270,000 after purchasing an additional 547,607 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after buying an additional 393,067 shares in the last quarter. Ceredex Value Advisors LLC grew its stake in Mid-America Apartment Communities by 107.1% in the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after buying an additional 342,335 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Mid-America Apartment Communities by 176.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock worth $48,356,000 after buying an additional 216,610 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA opened at $149.17 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.12 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $158.10 and a 200-day moving average price of $146.09. The company has a market cap of $17.43 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 2.44 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $118.68 and a 12 month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same period in the previous year, the company earned $2.29 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MAA. JMP Securities lifted their price objective on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. BNP Paribas assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $138.00 to $174.00 in a report on Monday, August 26th. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, Truist Financial increased their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have given 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, Mid-America Apartment Communities has a consensus rating of “Moderate Buy” and an average target price of $161.69.

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.