SG Americas Securities LLC raised its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 33.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,126 shares of the real estate investment trust's stock after purchasing an additional 6,304 shares during the quarter. SG Americas Securities LLC's holdings in Mid-America Apartment Communities were worth $3,993,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. raised its position in Mid-America Apartment Communities by 1.1% during the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust's stock valued at $996,000 after acquiring an additional 77 shares in the last quarter. Telos Capital Management Inc. raised its position in Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust's stock valued at $1,437,000 after acquiring an additional 78 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust's stock valued at $227,000 after acquiring an additional 90 shares in the last quarter. Covestor Ltd raised its position in Mid-America Apartment Communities by 12.3% during the first quarter. Covestor Ltd now owns 848 shares of the real estate investment trust's stock valued at $112,000 after acquiring an additional 93 shares in the last quarter. Finally, Czech National Bank raised its position in Mid-America Apartment Communities by 0.5% during the first quarter. Czech National Bank now owns 20,536 shares of the real estate investment trust's stock valued at $2,702,000 after acquiring an additional 99 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Janney Montgomery Scott upgraded Mid-America Apartment Communities from a "neutral" rating to a "buy" rating and set a $150.00 price objective for the company in a research report on Thursday, June 13th. Bank of America upgraded Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Scotiabank boosted their price objective on Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a "sector perform" rating in a research report on Monday, September 16th. Wedbush boosted their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Finally, JMP Securities boosted their price objective on 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $159.91.
View Our Latest Analysis on Mid-America Apartment Communities
Mid-America Apartment Communities Stock Down 0.7 %
NYSE MAA traded down $1.08 during trading hours on Monday, hitting $153.54. 480,091 shares of the company were exchanged, compared to its average volume of 769,613. The company has a 50 day moving average of $157.02 and a two-hundred day moving average of $142.91. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.63 and a beta of 0.88.
Mid-America Apartment Communities Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.83%. Mid-America Apartment Communities's payout ratio is currently 123.27%.
Mid-America Apartment Communities Company Profile
(
Free Report)
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.
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