Mutual of America Capital Management LLC Grows Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Mutual of America Capital Management LLC raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,740 shares of the real estate investment trust’s stock after purchasing an additional 347 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Mid-America Apartment Communities were worth $2,749,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in shares of Mid-America Apartment Communities by 3.4% in the 2nd quarter. Mackenzie Financial Corp now owns 12,070 shares of the real estate investment trust’s stock worth $2,108,000 after purchasing an additional 392 shares during the period. Industrial Alliance Investment Management Inc. raised its holdings in shares of Mid-America Apartment Communities by 9.2% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 68,970 shares of the real estate investment trust’s stock worth $12,047,000 after purchasing an additional 5,810 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Mid-America Apartment Communities by 0.8% in the 2nd quarter. Principal Financial Group Inc. now owns 145,363 shares of the real estate investment trust’s stock worth $25,390,000 after purchasing an additional 1,101 shares during the period. Inspire Investing LLC raised its holdings in shares of Mid-America Apartment Communities by 3.7% in the 2nd quarter. Inspire Investing LLC now owns 1,765 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 63 shares during the period. Finally, Mount Lucas Management LP raised its holdings in shares of Mid-America Apartment Communities by 3.7% during the 2nd quarter. Mount Lucas Management LP now owns 14,502 shares of the real estate investment trust’s stock valued at $2,533,000 after buying an additional 524 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAA has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on Mid-America Apartment Communities from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Monday, November 14th. Truist Financial raised their target price on Mid-America Apartment Communities from $188.00 to $198.00 in a report on Wednesday, August 24th. JMP Securities upgraded Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a report on Friday, July 29th. Piper Sandler dropped their target price on Mid-America Apartment Communities to $185.00 in a report on Tuesday, November 1st. Finally, Mizuho dropped their target price on Mid-America Apartment Communities from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Thursday, November 10th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $197.31.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $159.91 on Tuesday. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 9.42 and a beta of 0.74. The stock has a 50 day moving average of $154.78 and a 200-day moving average of $167.66. 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, Inc. has a 52 week low of $141.13 and a 52 week high of $231.63.

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 given a $1.25 dividend. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. The ex-dividend date was Thursday, October 13th. This represents a $5.00 annualized dividend and a dividend yield of 3.13%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 92.25%.

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.

Further Reading

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

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