State Street Corp Grows Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

State Street Corp boosted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,731,712 shares of the real estate investment trust’s stock after acquiring an additional 65,696 shares during the quarter. State Street Corp owned 0.07% of Mid-America Apartment Communities worth $1,228,569,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Johnson Investment Counsel Inc. increased its holdings in Mid-America Apartment Communities by 1.1% in the 2nd 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. raised its position in shares of 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 valued at $1,437,000 after purchasing an additional 78 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Mid-America Apartment Communities by 1.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock worth $962,000 after buying an additional 82 shares during the period. First Commonwealth Financial Corp PA increased its stake in Mid-America Apartment Communities by 2.1% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 86 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Mid-America Apartment Communities by 6.4% during the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 87 shares during the period. Institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of recent analyst reports. StockNews.com lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. 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 objective for the company in a research note on Monday, October 21st. Royal Bank of Canada reduced their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target on the stock. Finally, Piper Sandler increased their target price on 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. Two equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $162.68.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $158.94 on Friday. The stock has a 50 day simple moving average of $156.66 and a 200-day simple moving average of $150.83. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39. The company has a market cap of $18.58 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data 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 company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same quarter last year, the business earned $2.29 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company 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 was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.70%. Mid-America Apartment Communities’s payout ratio is 132.73%.

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.