Zacks Investment Management Increases Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Zacks Investment Management raised its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 23.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,752 shares of the real estate investment trust's stock after purchasing an additional 23,603 shares during the quarter. Zacks Investment Management owned 0.11% of Mid-America Apartment Communities worth $19,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Mid-America Apartment Communities by 0.9% during the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust's stock valued at $1,228,569,000 after buying an additional 65,696 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $375,515,000 after purchasing an additional 393,067 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Mid-America Apartment Communities by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust's stock worth $244,803,000 after purchasing an additional 97,672 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Mid-America Apartment Communities by 2.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust's stock worth $234,497,000 after purchasing an additional 44,621 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Mid-America Apartment Communities by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust's stock worth $215,402,000 after purchasing an additional 39,123 shares during the last quarter. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA traded down $0.25 during mid-day trading on Friday, hitting $158.94. The stock had a trading volume of 609,519 shares, compared to its average volume of 587,431. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day moving average price of $156.66 and a 200-day moving average price of $150.83. The firm has a market cap of $18.58 billion, a P/E ratio of 35.88, a PEG ratio of 2.57 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) 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 company's revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

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 3.70%. Mid-America Apartment Communities's payout ratio is 132.73%.

Analysts Set New Price Targets

MAA has been the subject of several recent research reports. Piper Sandler upped their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, August 26th. StockNews.com lowered shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a "neutral" rating and a $169.00 price target on the stock. Royal Bank of Canada cut their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a "sector perform" rating on the stock in a report on Friday, November 1st. Finally, The Goldman Sachs Group initiated 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 for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $162.68.

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.