Charles Schwab Investment Management Inc. Buys 33,528 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Charles Schwab Investment Management Inc. lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,389,113 shares of the real estate investment trust's stock after acquiring an additional 33,528 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.19% of Mid-America Apartment Communities worth $214,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth $2,890,000. Metis Global Partners LLC boosted its position in shares of Mid-America Apartment Communities by 9.5% during the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust's stock worth $2,670,000 after buying an additional 1,499 shares during the period. Swedbank AB boosted its position in shares of Mid-America Apartment Communities by 2.6% during the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust's stock worth $32,350,000 after buying an additional 5,178 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Mid-America Apartment Communities by 2.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust's stock worth $28,711,000 after buying an additional 4,301 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in Mid-America Apartment Communities in the 3rd quarter valued at approximately $4,304,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Mid-America Apartment Communities Price Performance

MAA traded up $1.04 on Monday, hitting $167.40. 948,628 shares of the stock were exchanged, compared to its average volume of 662,698. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. Mid-America Apartment Communities, Inc. has a 12 month low of $123.73 and a 12 month high of $173.38. The firm has a market capitalization of $19.57 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 3.72 and a beta of 0.90. The business has a 50-day moving average of $155.87 and a two-hundred day moving average of $157.24.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a $1.515 dividend. This is a positive change from Mid-America Apartment Communities's previous quarterly dividend of $1.47. The ex-dividend date was Wednesday, January 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.62%. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 135.27%.

Analysts Set New Price Targets

Several brokerages recently commented on MAA. BMO Capital Markets reduced their target price on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a report on Tuesday, January 21st. Mizuho decreased their price target on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Scotiabank raised shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $173.00 to $182.00 in a research report on Friday, February 14th. Truist Financial increased their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wells Fargo & Company lowered their price target on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.43.

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.