Northwestern Mutual Wealth Management Co. Buys 3,533 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Northwestern Mutual Wealth Management Co. grew its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 24.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,936 shares of the real estate investment trust's stock after acquiring an additional 3,533 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Mid-America Apartment Communities were worth $2,558,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MAA. Duquesne Family Office LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $91,868,000. Balyasny Asset Management L.P. lifted its position in shares of Mid-America Apartment Communities by 96.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust's stock worth $164,085,000 after buying an additional 600,547 shares during the period. Long Pond Capital LP lifted its position in shares of Mid-America Apartment Communities by 550.9% during the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust's stock worth $92,270,000 after buying an additional 547,607 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Mid-America Apartment Communities by 17.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust's stock worth $375,515,000 after buying an additional 393,067 shares during the period. Finally, Ceredex Value Advisors LLC lifted its position in shares of Mid-America Apartment Communities by 107.1% during the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust's stock worth $94,424,000 after buying an additional 342,335 shares during the period. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Down 0.3 %

Shares of NYSE MAA traded down $0.53 during midday trading on Friday, hitting $154.62. The stock had a trading volume of 515,881 shares, compared to its average volume of 771,121. The company's 50-day simple moving average is $157.02 and its 200 day simple moving average is $142.75. The firm has a market cap of $18.06 billion, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 2.63 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $167.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a $1.47 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.80%. Mid-America Apartment Communities's dividend payout ratio is currently 123.27%.

Analysts Set New Price Targets

Several research firms recently commented on MAA. JMP Securities raised their target price on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a "market outperform" rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price on Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a "sector perform" rating in a research report on Friday, August 2nd. Janney Montgomery Scott raised Mid-America Apartment Communities from a "neutral" rating to a "buy" rating and set a $150.00 price target for the company in a report on Thursday, June 13th. Piper Sandler raised their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, August 26th. Finally, Truist Financial raised their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a "buy" rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $159.91.

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.