Stephens Inc. AR raised its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,867 shares of the real estate investment trust’s stock after acquiring an additional 105 shares during the quarter. Stephens Inc. AR’s holdings in Mid-America Apartment Communities were worth $424,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its position in Mid-America Apartment Communities by 107.1% during the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 91 shares in the last quarter. Financial Network Wealth Advisors LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter valued at $29,000. Sound Income Strategies LLC boosted its position in Mid-America Apartment Communities by 972.2% during the 2nd quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter valued at $34,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter valued at $36,000. Institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Price Performance
Shares of MAA opened at $134.03 on Friday. The business’s 50-day moving average is $139.37 and its two-hundred day moving average is $147.94. The company has a market capitalization of $15.69 billion, a P/E ratio of 27.58, a P/E/G ratio of 3.58 and a beta of 0.77. 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 fifty-two week low of $131.17 and a fifty-two week high of $173.38.
Mid-America Apartment Communities Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be given a dividend of $1.515 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.06 annualized dividend and a yield of 4.5%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. Mid-America Apartment Communities’s payout ratio is 124.69%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. Mizuho upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $161.00 to $150.00 in a report on Thursday, August 14th. Wall Street Zen lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Sunday. Piper Sandler decreased their price objective on Mid-America Apartment Communities from $170.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, August 4th. Scotiabank decreased their price objective on Mid-America Apartment Communities from $180.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, August 14th. Finally, BNP Paribas lowered Mid-America Apartment Communities from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $161.78.
View Our Latest Research Report on Mid-America Apartment Communities
Mid-America Apartment Communities Company 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.
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