Raymond James Trust N.A. Boosts Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Raymond James Trust N.A. increased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 386.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,948 shares of the real estate investment trust's stock after purchasing an additional 5,520 shares during the quarter. Raymond James Trust N.A.'s holdings in Mid-America Apartment Communities were worth $1,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. lifted its holdings in Mid-America Apartment Communities by 12.8% during the second quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust's stock worth $4,352,000 after buying an additional 3,451 shares during the period. Swedbank AB bought a new stake in Mid-America Apartment Communities during the first quarter valued at about $26,107,000. Prosperity Consulting Group LLC purchased a new position in Mid-America Apartment Communities in the second quarter valued at about $2,572,000. Portside Wealth Group LLC purchased a new stake in shares of Mid-America Apartment Communities during the second quarter valued at about $808,000. Finally, Bank of Montreal Can boosted its holdings in shares of Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust's stock valued at $22,446,000 after buying an additional 8,984 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Truist Financial increased their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a "buy" rating in a research report on Monday, August 26th. Raymond James raised shares of Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 price target for the company in a report on Monday, October 21st. BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a "neutral" rating and a $169.00 price objective on the stock. Finally, Piper Sandler lifted their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and an average target price of $161.64.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA traded up $1.04 during mid-day trading on Monday, reaching $161.98. The company's stock had a trading volume of 976,824 shares, compared to its average volume of 747,949. Mid-America Apartment Communities, Inc. has a 1-year low of $121.51 and a 1-year high of $167.39. The stock has a market capitalization of $18.93 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.59 and a beta of 0.88. The stock has a 50-day moving average of $156.76 and a two-hundred day moving average of $149.14. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to analysts' expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm's revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.29 earnings per share. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.63%. Mid-America Apartment Communities's dividend payout ratio is currently 132.73%.

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.