Quest Partners LLC Buys New Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Quest Partners LLC acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,032 shares of the real estate investment trust’s stock, valued at approximately $164,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Mid-America Apartment Communities by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 155,906 shares of the real estate investment trust’s stock valued at $20,515,000 after acquiring an additional 492 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 90 shares during the last quarter. Virtu Financial LLC grew its stake in Mid-America Apartment Communities by 56.6% in the 1st quarter. Virtu Financial LLC now owns 5,607 shares of the real estate investment trust’s stock worth $738,000 after acquiring an additional 2,027 shares in the last quarter. Swedbank AB purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth $26,107,000. Finally, PGGM Investments raised its holdings in shares of Mid-America Apartment Communities by 2.2% in the 1st quarter. PGGM Investments now owns 23,201 shares of the real estate investment trust’s stock valued at $3,053,000 after purchasing an additional 496 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

MAA has been the subject of several analyst reports. Truist Financial increased their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective on the stock. Scotiabank decreased their price target on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $138.00 to $174.00 in a report on Monday, August 26th. Finally, Royal Bank of Canada cut their target price 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, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus price target of $162.68.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $165.20 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The stock’s fifty day moving average is $156.68 and its two-hundred day moving average is $149.63. The firm has a market capitalization of $19.31 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39.

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 firm had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same period in the previous year, the firm posted $2.29 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.56%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

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.