Hartford Investment Management Co. Decreases Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Hartford Investment Management Co. lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,320 shares of the real estate investment trust’s stock after selling 133 shares during the period. Hartford Investment Management Co.’s holdings in Mid-America Apartment Communities were worth $1,163,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MAA. Wellington Management Group LLP grew its position in Mid-America Apartment Communities by 323.8% in the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after purchasing an additional 30,855 shares during the period. Red Door Wealth Management LLC increased its position in Mid-America Apartment Communities by 0.4% during the first quarter. Red Door Wealth Management LLC now owns 76,814 shares of the real estate investment trust’s stock valued at $10,107,000 after acquiring an additional 277 shares during the last quarter. Diversified Trust Co lifted its holdings in Mid-America Apartment Communities by 5.8% in the first quarter. Diversified Trust Co now owns 3,259 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 180 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Mid-America Apartment Communities by 1,117.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 122,471 shares of the real estate investment trust’s stock worth $16,115,000 after purchasing an additional 112,411 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in Mid-America Apartment Communities by 0.3% in the first quarter. State of Michigan Retirement System now owns 33,599 shares of the real estate investment trust’s stock worth $4,421,000 after purchasing an additional 100 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Down 1.8 %

Shares of MAA stock opened at $153.32 on Friday. The company’s fifty day simple moving average is $158.34 and its two-hundred day simple moving average is $145.22. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $167.39. The stock has a market cap of $17.92 billion, a P/E ratio of 34.92, a PEG ratio of 2.48 and a beta of 0.88. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76.

Mid-America Apartment Communities Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Scotiabank lifted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Piper Sandler raised their target price 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. Finally, BNP Paribas assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $160.75.

Mid-America Apartment Communities 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.