Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,320 shares of the real estate investment trust’s stock after selling 1,241 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Mid-America Apartment Communities were worth $3,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Johnson Investment Counsel Inc. boosted its stake in Mid-America Apartment Communities by 1.1% in 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 during the period. Telos Capital Management Inc. grew its stake in shares of Mid-America Apartment Communities by 0.8% in 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 acquiring an additional 78 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Mid-America Apartment Communities by 6.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 87 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Mid-America Apartment Communities by 5.4% in 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 lifted its position in Mid-America Apartment Communities by 12.3% in the first quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 93 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BNP Paribas started coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective for the company. Wedbush lifted their price target on shares of 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. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Truist Financial increased their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Scotiabank upped their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $160.75.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $153.32 on Friday. The company has a market capitalization of $17.92 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.48 and a beta of 0.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The firm’s 50 day simple moving average is $158.34 and its two-hundred day simple moving average is $145.29. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $167.39.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.84%. Mid-America Apartment Communities’s dividend payout ratio is currently 133.94%.

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.