Financial Advocates Investment Management Acquires 93 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Financial Advocates Investment Management lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,308 shares of the real estate investment trust’s stock after acquiring an additional 93 shares during the period. Financial Advocates Investment Management’s holdings in Mid-America Apartment Communities were worth $367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAA. Johnson Investment Counsel Inc. increased 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 worth $996,000 after purchasing an additional 77 shares in the last quarter. Telos Capital Management Inc. grew its holdings in Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 78 shares in the last quarter. V Square Quantitative Management LLC raised its position in Mid-America Apartment Communities by 6.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 87 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Mid-America Apartment Communities by 5.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 90 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Mid-America Apartment Communities by 12.3% during the 1st quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 93 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

MAA has been the subject of several analyst reports. Royal Bank of Canada decreased their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday. Raymond James raised 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. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective on the stock. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their target price for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, Piper Sandler boosted their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have issued 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.69.

Mid-America Apartment Communities Stock Down 1.4 %

Mid-America Apartment Communities stock opened at $149.17 on Monday. The firm has a 50 day simple moving average of $158.10 and a 200 day simple moving average of $146.09. The company has a current ratio of 0.09, a quick ratio of 0.12 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 1-year low of $118.68 and a 1-year high of $167.39. The firm has a market capitalization of $17.43 billion, a price-to-earnings ratio of 33.67, a P/E/G ratio of 2.44 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter last year, the firm posted $2.29 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

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.