Van ECK Associates Corp Grows Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Van ECK Associates Corp boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,316 shares of the real estate investment trust’s stock after buying an additional 1,617 shares during the period. Van ECK Associates Corp’s holdings in Mid-America Apartment Communities were worth $6,489,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its position in shares of Mid-America Apartment Communities by 22.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 84 shares during the period. First Financial Corp IN lifted its stake in Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 86 shares in the last quarter. Blue Trust Inc. boosted its holdings in Mid-America Apartment Communities by 22.8% during the 4th quarter. Blue Trust Inc. now owns 511 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 95 shares during the period. Oakworth Capital Inc. grew its position in Mid-America Apartment Communities by 0.6% in the 4th quarter. Oakworth Capital Inc. now owns 15,212 shares of the real estate investment trust’s stock valued at $2,045,000 after acquiring an additional 98 shares in the last quarter. Finally, Czech National Bank increased its stake in Mid-America Apartment Communities by 0.5% during the first quarter. Czech National Bank now owns 20,536 shares of the real estate investment trust’s stock worth $2,702,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MAA shares. Mizuho upped their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Janney Montgomery Scott upgraded Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a report on Thursday, June 13th. UBS Group upped their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a “sell” rating in a report on Tuesday, May 14th. Wells Fargo & Company boosted their price objective on Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Finally, Scotiabank raised their target price on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and an average target price of $142.44.

Check Out Our Latest Stock Report on Mid-America Apartment Communities

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $138.80 on Friday. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The stock’s 50-day moving average price is $136.63 and its 200 day moving average price is $132.36. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $16.22 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 3.10 and a beta of 0.85.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. During the same period in the previous year, the firm posted $2.28 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s payout ratio is 123.27%.

About Mid-America Apartment Communities

(Free Report)

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.

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

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