Metis Global Partners LLC Buys 2,829 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Metis Global Partners LLC boosted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 21.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,774 shares of the real estate investment trust’s stock after buying an additional 2,829 shares during the quarter. Metis Global Partners LLC’s holdings in Mid-America Apartment Communities were worth $2,506,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV raised its stake in shares of Mid-America Apartment Communities by 830.8% during the third quarter. KBC Group NV now owns 125,785 shares of the real estate investment trust’s stock valued at $19,987,000 after acquiring an additional 112,271 shares in the last quarter. Victory Capital Management Inc. grew its stake in Mid-America Apartment Communities by 19.6% in the third quarter. Victory Capital Management Inc. now owns 42,886 shares of the real estate investment trust’s stock valued at $6,815,000 after purchasing an additional 7,020 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Mid-America Apartment Communities by 8.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 18,817 shares of the real estate investment trust’s stock valued at $2,990,000 after buying an additional 1,498 shares during the last quarter. Versor Investments LP raised its stake in shares of Mid-America Apartment Communities by 237.9% during the 3rd quarter. Versor Investments LP now owns 8,208 shares of the real estate investment trust’s stock worth $1,304,000 after acquiring an additional 5,779 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities in the third quarter valued at approximately $25,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MAA. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. The Goldman Sachs Group initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Scotiabank reduced their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Truist Financial boosted their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.64.

Mid-America Apartment Communities Stock Up 0.5 %

Shares of NYSE:MAA opened at $158.09 on Friday. The stock has a 50-day simple moving average of $157.27 and a 200-day simple moving average of $148.02. The stock has a market capitalization of $18.48 billion, a P/E ratio of 35.69, a PEG ratio of 2.60 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 1 year low of $120.32 and a 1 year high of $167.39. 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 (NYSE:MAA) last posted its 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). 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 posted $2.29 EPS. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

Mid-America Apartment Communities 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.