PNC Financial Services Group Inc. Has $2.29 Million Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

PNC Financial Services Group Inc. increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,398 shares of the real estate investment trust’s stock after acquiring an additional 1,618 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mid-America Apartment Communities were worth $2,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Johnson Investment Counsel Inc. raised its holdings in Mid-America Apartment Communities by 1.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 77 shares during the last quarter. Telos Capital Management Inc. raised its stake in Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 78 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Mid-America Apartment Communities by 6.4% in the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 87 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Mid-America Apartment Communities by 5.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 90 shares during the period. Finally, Financial Advocates Investment Management boosted its position in Mid-America Apartment Communities by 4.2% during the third quarter. Financial Advocates Investment Management now owns 2,308 shares of the real estate investment trust’s stock valued at $367,000 after acquiring an additional 93 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $162.00 on Tuesday. Mid-America Apartment Communities, Inc. has a one year low of $121.51 and a one year high of $167.39. The company has a market cap of $18.93 billion, a P/E ratio of 36.56, a P/E/G ratio of 2.59 and a beta of 0.88. The firm has a 50-day moving average of $156.76 and a 200-day moving average of $149.14. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

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

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analyst Ratings Changes

MAA has been the topic of a number of recent analyst reports. 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 on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Wedbush raised their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial boosted their target price 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. Finally, BNP Paribas began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $161.64.

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.