TD Private Client Wealth LLC Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

TD Private Client Wealth LLC lifted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 806.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,675 shares of the real estate investment trust’s stock after purchasing an additional 2,380 shares during the quarter. TD Private Client Wealth LLC’s holdings in Mid-America Apartment Communities were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $25,000. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $26,000. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $32,000. UMB Bank n.a. lifted its position in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 108 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA opened at $157.22 on Friday. The business’s 50-day simple moving average is $156.83 and its 200 day simple moving average is $151.71. The company has a market cap of $18.38 billion, a P/E ratio of 35.49, a PEG ratio of 2.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. 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 issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (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 earned $2.29 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.85%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is currently 132.73%.

Analyst Upgrades and Downgrades

MAA has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada dropped 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 research 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 increased their price target for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Truist Financial boosted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price on the stock in a research report on Monday, October 21st. Two equities 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.