Eagle Asset Management Inc. Invests $4.30 Million in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Eagle Asset Management Inc. acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 27,042 shares of the real estate investment trust's stock, valued at approximately $4,304,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth about $25,000. EdgeRock Capital LLC bought a new position in Mid-America Apartment Communities in the second quarter worth approximately $26,000. Activest Wealth Management acquired a new stake in Mid-America Apartment Communities in the third quarter valued at approximately $32,000. Versant Capital Management Inc increased its holdings in shares of Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 215 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities during the third quarter worth approximately $37,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAA has been the subject of a number of analyst reports. Piper Sandler lifted their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Wells Fargo & Company raised Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $138.00 to $174.00 in a research report on Monday, August 26th. JMP Securities upped their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a "market outperform" rating in a research note on Friday, August 2nd. Truist Financial increased their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a "buy" rating in a report on Monday, August 26th. Finally, Scotiabank cut their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $161.64.

Mid-America Apartment Communities Stock Performance

Shares of MAA traded up $1.04 during trading hours on Monday, hitting $161.98. The company's stock had a trading volume of 976,824 shares, compared to its average volume of 747,949. The business has a 50 day simple moving average of $156.76 and a two-hundred day simple moving average of $149.14. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.59 and a beta of 0.88.

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

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.63%. Mid-America Apartment Communities's dividend payout ratio is currently 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.