Marco Investment Management LLC Purchases New Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Marco Investment Management LLC acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,311 shares of the real estate investment trust’s stock, valued at approximately $208,000.

A number of other hedge funds also recently bought and sold shares of MAA. Johnson Investment Counsel Inc. increased its position in shares of Mid-America Apartment Communities by 1.1% in the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after acquiring an additional 77 shares in the last quarter. Telos Capital Management Inc. grew its position in Mid-America Apartment Communities by 0.8% during the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after purchasing an additional 78 shares in the last quarter. V Square Quantitative Management LLC raised its stake in 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 valued at $229,000 after purchasing an additional 87 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Mid-America Apartment Communities by 5.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its position in shares of Mid-America Apartment Communities by 4.2% in the third quarter. Financial Advocates Investment Management now owns 2,308 shares of the real estate investment trust’s stock worth $367,000 after buying an additional 93 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $160.94 on Monday. Mid-America Apartment Communities, Inc. has a 1 year low of $121.38 and a 1 year high of $167.39. The company has a fifty day simple moving average of $156.76 and a 200 day simple moving average of $149.14. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a market cap of $18.81 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.59 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. On average, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

Analyst Ratings Changes

Several research analysts recently weighed in on MAA shares. Scotiabank dropped their price target on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada decreased their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $138.00 to $174.00 in a research report on Monday, August 26th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Wedbush boosted their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $161.64.

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.