Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,141,138 shares of the real estate investment trust's stock after buying an additional 48,168 shares during the period. Geode Capital Management LLC owned 2.69% of Mid-America Apartment Communities worth $497,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $25,000. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities during the second quarter valued at $26,000. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the third quarter valued at $32,000. UMB Bank n.a. grew its stake in shares of Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust's stock worth $34,000 after buying an additional 108 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth about $37,000. 93.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MAA shares. Piper Sandler increased their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, August 26th. Wells Fargo & Company upgraded Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a "hold" rating in a research report on Tuesday, September 10th. 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 research note on Monday, August 26th. Finally, StockNews.com cut shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of "Hold" and a consensus price target of $162.68.

Mid-America Apartment Communities Stock Down 0.7 %

Shares of MAA stock traded down $1.13 on Friday, hitting $157.22. The stock had a trading volume of 378,564 shares, compared to its average volume of 740,999. Mid-America Apartment Communities, Inc. has a one year low of $121.51 and a one year high of $167.39. The business has a 50 day moving average price of $156.83 and a 200 day moving average price of $151.57. The company has a market cap of $18.38 billion, a PE ratio of 35.49, a P/E/G ratio of 2.55 and a beta of 0.90. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80.

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

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 3.85%. This is a positive change from Mid-America Apartment Communities's previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. Mid-America Apartment Communities's payout ratio is presently 132.73%.

Mid-America Apartment Communities Company 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.