BNP Paribas Financial Markets Has $26.75 Million Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

BNP Paribas Financial Markets grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 56.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 168,313 shares of the real estate investment trust’s stock after buying an additional 61,047 shares during the period. BNP Paribas Financial Markets’ holdings in Mid-America Apartment Communities were worth $26,745,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MAA. Brooklyn Investment Group bought a new position in Mid-America Apartment Communities during the third quarter valued at about $69,000. Quantbot Technologies LP bought a new stake in shares of Mid-America Apartment Communities during the third quarter valued at approximately $249,000. D.A. Davidson & CO. raised its stake in shares of Mid-America Apartment Communities by 4.2% in the third quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 93 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Mid-America Apartment Communities by 1.5% in the third quarter. The Manufacturers Life Insurance Company now owns 89,290 shares of the real estate investment trust’s stock worth $14,188,000 after purchasing an additional 1,308 shares during the period. Finally, Truvestments Capital LLC boosted its stake in Mid-America Apartment Communities by 1.3% during the third quarter. Truvestments Capital LLC now owns 19,093 shares of the real estate investment trust’s stock worth $3,034,000 after buying an additional 249 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

MAA opened at $164.09 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $19.18 billion, a P/E ratio of 37.04, a price-to-earnings-growth ratio of 2.66 and a beta of 0.88. The company’s 50 day simple moving average is $156.69 and its 200-day simple moving average is $149.73. Mid-America Apartment Communities, Inc. has a one year low of $121.51 and a one year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS 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 during the quarter, compared to analyst estimates of $548.53 million. During the same period last year, the business posted $2.29 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.58%. Mid-America Apartment Communities’s payout ratio is presently 132.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $138.00 to $174.00 in a report on Monday, August 26th. JMP Securities lifted their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. BNP Paribas began coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their price target for the company from $144.00 to $189.00 in a research note on Monday, August 12th. Finally, Royal Bank of Canada dropped their price objective on 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $162.68.

Mid-America Apartment Communities Company 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.