State Street Corp Boosts Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

State Street Corp increased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,731,712 shares of the real estate investment trust's stock after buying an additional 65,696 shares during the quarter. State Street Corp owned 6.62% of Mid-America Apartment Communities worth $1,228,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MAA. Johnson Investment Counsel Inc. boosted its holdings in Mid-America Apartment Communities by 1.1% during the 2nd 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 during the period. Telos Capital Management Inc. lifted its position in Mid-America Apartment Communities by 0.8% in 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 purchasing an additional 78 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Mid-America Apartment Communities by 1.4% during the third quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust's stock valued at $962,000 after purchasing an additional 82 shares during the period. First Commonwealth Financial Corp PA grew its holdings in shares of Mid-America Apartment Communities by 2.1% in the third quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust's stock worth $664,000 after purchasing an additional 86 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of Mid-America Apartment Communities by 6.4% in the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Down 0.2 %

Shares of NYSE MAA traded down $0.25 during trading on Friday, reaching $158.94. The company had a trading volume of 609,519 shares, compared to its average volume of 587,431. The stock has a market cap of $18.58 billion, a PE ratio of 35.88, a P/E/G ratio of 2.57 and a beta of 0.90. The business's 50-day moving average is $156.66 and its 200 day moving average is $150.83. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80.

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

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced 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 of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.70%. Mid-America Apartment Communities's dividend payout ratio is 132.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MAA shares. 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 research report on Monday, October 21st. Truist Financial raised their target price on 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. The Goldman Sachs Group started coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a "buy" rating and a $187.00 price target for the company. StockNews.com cut Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $138.00 to $174.00 in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and a consensus price target of $162.68.

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.