Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Acquired by Commerce Bank

Commerce Bank increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 27.6% during the third quarter, HoldingsChannel.com reports. The fund owned 8,899 shares of the real estate investment trust’s stock after buying an additional 1,924 shares during the period. Commerce Bank’s holdings in Mid-America Apartment Communities were worth $1,414,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in shares of Mid-America Apartment Communities by 12.7% in the third quarter. PNC Financial Services Group Inc. now owns 14,398 shares of the real estate investment trust’s stock valued at $2,288,000 after purchasing an additional 1,618 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at $1,140,000. Quest Partners LLC purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth $164,000. Swiss National Bank increased its position in shares of Mid-America Apartment Communities by 0.3% during the 3rd quarter. Swiss National Bank now owns 346,676 shares of the real estate investment trust’s stock worth $55,087,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in Mid-America Apartment Communities by 194.4% in the 3rd quarter. Natixis Advisors LLC now owns 98,193 shares of the real estate investment trust’s stock valued at $15,603,000 after buying an additional 64,839 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 1.5 %

Shares of Mid-America Apartment Communities stock opened at $160.94 on Monday. Mid-America Apartment Communities, Inc. has a 52-week low of $121.38 and a 52-week high of $167.39. The company has a 50 day moving average of $156.76 and a 200 day moving average of $149.14. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $18.81 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.55 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the previous year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research 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. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the company from $144.00 to $189.00 in a research report on Monday, August 12th. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research note on Monday, October 21st. Wedbush raised their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Piper Sandler boosted their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $161.64.

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.