Duff & Phelps Investment Management Co. Has $12.38 Million Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Duff & Phelps Investment Management Co. trimmed its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 79.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,880 shares of the real estate investment trust's stock after selling 302,950 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.07% of Mid-America Apartment Communities worth $12,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in shares of Mid-America Apartment Communities by 2.4% in 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 purchasing an additional 4,301 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Mid-America Apartment Communities in the third quarter valued at $2,890,000. MML Investors Services LLC boosted its holdings in Mid-America Apartment Communities by 14.6% during the 3rd quarter. MML Investors Services LLC now owns 8,331 shares of the real estate investment trust's stock valued at $1,324,000 after acquiring an additional 1,064 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Mid-America Apartment Communities by 45.6% in the third quarter. Orion Portfolio Solutions LLC now owns 21,294 shares of the real estate investment trust's stock valued at $3,384,000 after acquiring an additional 6,671 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $1,050,000. Hedge funds and other institutional investors own 93.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MAA. Bank of America raised Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and boosted their price target for the company from $144.00 to $189.00 in a report on Monday, August 12th. StockNews.com lowered shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a report on Tuesday, November 5th. Royal Bank of Canada dropped their target price on Mid-America Apartment Communities from $169.00 to $165.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a "hold" rating in a research report on Tuesday, September 10th. Finally, Truist Financial boosted their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a "buy" rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $162.68.

Mid-America Apartment Communities Trading Up 0.2 %

NYSE MAA traded up $0.27 during trading on Monday, reaching $159.21. 650,450 shares of the stock traded hands, compared to its average volume of 742,659. The stock's 50-day moving average price is $156.66 and its 200 day moving average price is $150.94. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same period in the prior year, the company earned $2.29 earnings per share. The firm's quarterly revenue was up 1.7% on a year-over-year basis. Analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.69%. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 132.73%.

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.