Raymond James & Associates Increases Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Raymond James & Associates increased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 28.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 192,705 shares of the real estate investment trust’s stock after buying an additional 42,491 shares during the quarter. Raymond James & Associates’ holdings in Mid-America Apartment Communities were worth $30,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after purchasing an additional 393,067 shares during the period. Dimensional Fund Advisors LP increased its position 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 holdings in 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 valued at $234,497,000 after buying an additional 44,621 shares during the period. Canada Pension Plan Investment Board lifted its position in Mid-America Apartment Communities by 1.5% during the first quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock valued at $190,086,000 after buying an additional 21,000 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Mid-America Apartment Communities by 7.0% during the second quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock worth $162,616,000 after buying an additional 74,936 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MAA shares. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price on the stock. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Piper Sandler increased their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Raymond James upgraded 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 report on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and an average price target of $160.75.

Mid-America Apartment Communities Trading Up 1.7 %

Mid-America Apartment Communities stock opened at $156.52 on Thursday. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $167.39. The firm’s 50-day moving average is $158.28 and its 200-day moving average is $145.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $18.29 billion, a P/E ratio of 32.81, a PEG ratio of 2.47 and a beta of 0.88.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

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.