Lincoln Capital Corp Invests $3.11 Million in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Lincoln Capital Corp acquired a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,555 shares of the real estate investment trust's stock, valued at approximately $3,107,000. Mid-America Apartment Communities comprises about 1.3% of Lincoln Capital Corp's investment portfolio, making the stock its 26th largest position.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Mid-America Apartment Communities by 323.8% in the fourth 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. Red Door Wealth Management LLC raised its stake in shares of Mid-America Apartment Communities by 0.4% in the first quarter. Red Door Wealth Management LLC now owns 76,814 shares of the real estate investment trust's stock valued at $10,107,000 after acquiring an additional 277 shares during the last quarter. Diversified Trust Co raised its position in Mid-America Apartment Communities by 5.8% in the 1st quarter. Diversified Trust Co now owns 3,259 shares of the real estate investment trust's stock valued at $429,000 after purchasing an additional 180 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Mid-America Apartment Communities by 1,117.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 122,471 shares of the real estate investment trust's stock worth $16,115,000 after buying an additional 112,411 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Mid-America Apartment Communities by 0.3% during the first quarter. State of Michigan Retirement System now owns 33,599 shares of the real estate investment trust's stock worth $4,421,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Down 1.8 %

NYSE MAA traded down $2.75 on Friday, hitting $153.32. 428,351 shares of the company were exchanged, compared to its average volume of 752,025. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $167.39. The company has a market cap of $17.92 billion, a PE ratio of 34.92, a PEG ratio of 2.48 and a beta of 0.88. The stock has a fifty day moving average of $158.34 and a 200-day moving average of $145.29. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid 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 yield of 3.84%. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 133.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MAA shares. The Goldman Sachs Group started 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. UBS Group upped their target price on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a "sell" rating in a report on Thursday, July 18th. Piper Sandler upped their price objective 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. Truist Financial raised their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday, August 26th. Finally, Scotiabank boosted their price target on 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $160.75.

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.