Duff & Phelps Investment Management Co. Purchases 211,308 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Duff & Phelps Investment Management Co. grew its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 271.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 289,188 shares of the real estate investment trust's stock after buying an additional 211,308 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.25% of Mid-America Apartment Communities worth $44,700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new position in Mid-America Apartment Communities during the third quarter valued at $164,000. Cerity Partners LLC raised its stake in Mid-America Apartment Communities by 169.7% in the 3rd quarter. Cerity Partners LLC now owns 13,511 shares of the real estate investment trust's stock worth $2,147,000 after acquiring an additional 8,501 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Mid-America Apartment Communities by 1.5% in the third quarter. The Manufacturers Life Insurance Company now owns 89,290 shares of the real estate investment trust's stock worth $14,188,000 after acquiring an additional 1,308 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Mid-America Apartment Communities by 4.2% during the 3rd quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust's stock valued at $365,000 after purchasing an additional 93 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $249,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

MAA has been the subject of a number of research reports. Scotiabank raised shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and upped their target price for the stock from $173.00 to $182.00 in a report on Friday, February 14th. Wells Fargo & Company decreased their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. StockNews.com downgraded Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Saturday. Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their price objective for the company from $148.00 to $190.00 in a report on Monday, March 10th. Finally, Mizuho dropped their price target on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.90.

Mid-America Apartment Communities Price Performance

NYSE:MAA traded down $0.70 during mid-day trading on Tuesday, reaching $166.88. The stock had a trading volume of 158,363 shares, compared to its average volume of 702,807. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $19.51 billion, a PE ratio of 37.47, a P/E/G ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 12 month low of $123.73 and a 12 month high of $173.38. The stock has a 50-day simple moving average of $159.95 and a two-hundred day simple moving average of $157.55.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 annualized dividend and a yield of 3.63%. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 135.27%.

About Mid-America Apartment Communities

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.