Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 20.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 380,830 shares of the real estate investment trust’s stock after selling 96,350 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.33% of Mid-America Apartment Communities worth $54,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Duquesne Family Office LLC acquired a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $91,868,000. Balyasny Asset Management L.P. grew its stake in Mid-America Apartment Communities by 96.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock valued at $164,085,000 after acquiring an additional 600,547 shares during the period. Long Pond Capital LP increased its holdings in Mid-America Apartment Communities by 550.9% in the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after acquiring an additional 547,607 shares in the last quarter. 1832 Asset Management L.P. raised its position in Mid-America Apartment Communities by 103.1% during the fourth quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock worth $138,499,000 after acquiring an additional 522,851 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after purchasing an additional 393,067 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

MAA has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their target price for the company from $144.00 to $189.00 in a report on Monday, August 12th. Royal Bank of Canada lifted their price target on Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Scotiabank lifted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $159.91.

Mid-America Apartment Communities Stock Down 0.6 %

Shares of NYSE MAA opened at $157.77 on Friday. The company has a market capitalization of $18.43 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The company has a 50 day simple moving average of $155.64 and a 200-day simple moving average of $141.92. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $167.39.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $1.47 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.73%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Mid-America Apartment Communities 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.