Oppenheimer Asset Management Inc. Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Oppenheimer Asset Management Inc. bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,440 shares of the real estate investment trust’s stock, valued at approximately $600,000.

Other institutional investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC raised its position in shares of Mid-America Apartment Communities by 1.2% in the first quarter. Mutual of America Capital Management LLC now owns 15,393 shares of the real estate investment trust’s stock worth $3,224,000 after buying an additional 190 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Mid-America Apartment Communities by 4.8% in the first quarter. Victory Capital Management Inc. now owns 54,322 shares of the real estate investment trust’s stock worth $10,684,000 after buying an additional 2,480 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Mid-America Apartment Communities by 57.4% in the second quarter. Illinois Municipal Retirement Fund now owns 107,951 shares of the real estate investment trust’s stock worth $18,856,000 after buying an additional 39,358 shares in the last quarter. US Bancorp DE raised its position in shares of Mid-America Apartment Communities by 1.9% in the second quarter. US Bancorp DE now owns 9,525 shares of the real estate investment trust’s stock worth $1,663,000 after buying an additional 182 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Mid-America Apartment Communities by 13.8% in the second quarter. Treasurer of the State of North Carolina now owns 50,158 shares of the real estate investment trust’s stock worth $8,761,000 after buying an additional 6,064 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Mid-America Apartment Communities Stock Up 0.5 %

Shares of NYSE:MAA opened at $156.65 on Wednesday. The stock’s 50-day moving average price is $155.93 and its 200-day moving average price is $168.53. Mid-America Apartment Communities, Inc. has a 12-month low of $141.13 and a 12-month high of $231.63. The stock has a market capitalization of $18.09 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 9.46 and a beta of 0.74. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.73.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 14th were issued a dividend of $1.25 per share. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, October 13th. Mid-America Apartment Communities’s dividend payout ratio is currently 92.25%.

Wall Street Analyst Weigh In

MAA has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Mid-America Apartment Communities to $190.00 in a research report on Tuesday, August 9th. The Goldman Sachs Group increased their target price on Mid-America Apartment Communities from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Monday. Truist Financial increased their target price on Mid-America Apartment Communities from $188.00 to $198.00 in a research note on Wednesday, August 24th. Royal Bank of Canada reduced their target price on Mid-America Apartment Communities from $177.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Friday, October 28th. Finally, Barclays reduced their target price on Mid-America Apartment Communities from $215.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, November 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.31.

About Mid-America Apartment Communities

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MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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