Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 28.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 192,705 shares of the real estate investment trust's stock after purchasing an additional 42,491 shares during the quarter. Raymond James & Associates owned about 0.16% of Mid-America Apartment Communities worth $30,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MAA. Wellington Management Group LLP grew its stake in shares of Mid-America Apartment Communities by 323.8% during the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust's stock worth $5,430,000 after purchasing an additional 30,855 shares during the period. Pasadena Private Wealth LLC grew its stake in shares of Mid-America Apartment Communities by 43.5% during the 1st quarter. Pasadena Private Wealth LLC now owns 2,674 shares of the real estate investment trust's stock worth $352,000 after purchasing an additional 811 shares during the period. Ameliora Wealth Management Ltd. acquired a new position in shares of Mid-America Apartment Communities during the 1st quarter worth $158,000. Red Door Wealth Management LLC grew its stake in shares of Mid-America Apartment Communities by 0.4% during the 1st quarter. Red Door Wealth Management LLC now owns 76,814 shares of the real estate investment trust's stock worth $10,107,000 after purchasing an additional 277 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Mid-America Apartment Communities by 5.8% during the 1st quarter. Diversified Trust Co now owns 3,259 shares of the real estate investment trust's stock worth $429,000 after purchasing an additional 180 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a "neutral" rating and a $169.00 price target on the stock. JMP Securities increased their price objective on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a "market outperform" rating in a research note on Friday, August 2nd. Scotiabank increased their price objective on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a "sector perform" rating in a research note on Monday, September 16th. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a "buy" rating and a $187.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a "sector perform" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $160.75.

Mid-America Apartment Communities Trading Down 0.2 %

Shares of MAA stock traded down $0.29 during trading hours on Thursday, hitting $156.05. 486,753 shares of the company were exchanged, compared to its average volume of 753,596. The firm has a market cap of $18.23 billion, a PE ratio of 32.71, a PEG ratio of 2.47 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $167.39. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average of $158.33 and a 200 day moving average of $145.08.

Mid-America Apartment Communities Announces Dividend

The business 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 dividend of $1.47 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.77%. Mid-America Apartment Communities's payout ratio is currently 123.27%.

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.