IRON Financial LLC Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

IRON Financial LLC purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,821 shares of the real estate investment trust’s stock, valued at approximately $448,000.

Several other hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its position in shares of Mid-America Apartment Communities by 2.5% during the 3rd quarter. US Bancorp DE now owns 8,683 shares of the real estate investment trust’s stock worth $1,380,000 after purchasing an additional 209 shares during the period. Financial Advocates Investment Management boosted its position in shares of Mid-America Apartment Communities by 4.2% during the 3rd quarter. Financial Advocates Investment Management now owns 2,308 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 93 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Mid-America Apartment Communities by 35.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,654 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 691 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Mid-America Apartment Communities by 26.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,363 shares of the real estate investment trust’s stock worth $534,000 after purchasing an additional 706 shares during the period. Finally, GW Henssler & Associates Ltd. purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 0.2 %

NYSE:MAA traded up $0.28 during midday trading on Thursday, hitting $152.43. 686,672 shares of the company were exchanged, compared to its average volume of 749,013. The company has a fifty day simple moving average of $158.30 and a 200 day simple moving average of $145.74. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $167.39. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $17.81 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.86%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MAA shares. Deutsche Bank Aktiengesellschaft raised their price target 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. Raymond James raised shares of 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 research report on Monday, October 21st. Piper Sandler raised their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Scotiabank raised their price target on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada raised their price target on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.75.

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.