Avantax Advisory Services Inc. Acquires 80 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Avantax Advisory Services Inc. boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,353 shares of the real estate investment trust’s stock after acquiring an additional 80 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Mid-America Apartment Communities were worth $394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its position in Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 91 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 94.9% in the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 112 shares during the period. GoalVest Advisory LLC raised its position in shares of Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 160 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Mid-America Apartment Communities during the first quarter valued at $46,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Mid-America Apartment Communities during the first quarter valued at $60,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 0.8%

Shares of Mid-America Apartment Communities stock opened at $140.67 on Thursday. The firm has a market cap of $16.47 billion, a PE ratio of 28.95, a P/E/G ratio of 3.79 and a beta of 0.75. The business’s 50 day simple moving average is $149.52 and its 200 day simple moving average is $155.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. Mid-America Apartment Communities, Inc. has a 52-week low of $138.67 and a 52-week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The company had revenue of $549.90 million for the quarter, compared to the consensus estimate of $552.19 million. During the same period last year, the company earned $2.22 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued a $1.515 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.69%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MAA shares. Wall Street Zen cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Mizuho dropped their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Truist Financial reduced their price objective on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating on the stock in a research note on Wednesday, May 21st. Robert W. Baird lifted their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, Evercore ISI cut their price target on Mid-America Apartment Communities from $163.00 to $155.00 and set an “in-line” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $166.95.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.