State of Alaska Department of Revenue Decreases Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

State of Alaska Department of Revenue reduced its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,431 shares of the real estate investment trust's stock after selling 7,020 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Mid-America Apartment Communities worth $11,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. Duquesne Family Office LLC purchased a new position in shares of Mid-America Apartment Communities in the second quarter worth $91,868,000. Long Pond Capital LP raised its stake in Mid-America Apartment Communities by 550.9% in 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 acquiring an additional 547,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 acquiring an additional 393,067 shares during the period. Ceredex Value Advisors LLC grew its stake in 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 valued at $94,424,000 after purchasing an additional 342,335 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Mid-America Apartment Communities by 176.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust's stock valued at $48,356,000 after buying an additional 216,610 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock traded up $0.47 during midday trading on Monday, reaching $153.79. The company had a trading volume of 314,245 shares, compared to its average volume of 749,925. 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, Inc. has a 12-month low of $115.56 and a 12-month high of $167.39. The company has a market capitalization of $17.97 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.48 and a beta of 0.88. The firm's fifty day simple moving average is $158.36 and its 200-day simple moving average is $145.53.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio is presently 123.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MAA shares. Wedbush raised their price target on shares of 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. Wells Fargo & Company upgraded Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $138.00 to $174.00 in a research note on Monday, August 26th. Piper Sandler lifted their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, August 26th. Raymond James upgraded Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 price objective on the stock in a research report on Monday, October 21st. Finally, Bank of America raised shares of Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and lifted their target price for the company from $144.00 to $189.00 in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of "Moderate Buy" and an average price target of $160.75.

About Mid-America Apartment Communities

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.