Van ECK Associates Corp Raises Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Van ECK Associates Corp increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,817 shares of the real estate investment trust's stock after acquiring an additional 5,816 shares during the period. Van ECK Associates Corp's holdings in Mid-America Apartment Communities were worth $8,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Mid-America Apartment Communities in the second quarter worth approximately $26,000. Versant Capital Management Inc raised its position in Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 215 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 108 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Mid-America Apartment Communities by 305.1% in the second quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 238 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Mid-America Apartment Communities by 252.3% in the second quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust's stock worth $55,000 after buying an additional 280 shares in the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA traded up $0.26 during midday trading on Thursday, hitting $153.85. 156,930 shares of the stock traded hands, compared to its average volume of 753,073. 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, Inc. has a one year low of $118.72 and a one year high of $167.39. The firm has a market capitalization of $17.98 billion, a P/E ratio of 34.67, a PEG ratio of 2.45 and a beta of 0.88. The firm has a 50-day moving average of $157.72 and a two-hundred day moving average of $146.68.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 EPS. On average, equities analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.82%. Mid-America Apartment Communities's dividend payout ratio is currently 132.73%.

Analysts Set New Price Targets

Several equities analysts have commented on MAA shares. Truist Financial raised their price objective on 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. Scotiabank lifted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a "sector perform" rating in a report on Monday, September 16th. Wedbush upped their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a "hold" rating in a research report on Tuesday, September 10th. Finally, UBS Group raised their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a "sell" rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $161.69.

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.