IRON Financial LLC Invests $448,000 in Mid-America Apartment Communities, Inc. (NYSE:MAA)

IRON Financial LLC purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,821 shares of the real estate investment trust’s stock, valued at approximately $448,000.

A number of other large investors have also made changes to their positions in the business. EdgeRock Capital LLC purchased a new stake in shares of Mid-America Apartment Communities during the second quarter valued at $26,000. DecisionPoint Financial LLC purchased a new stake in Mid-America Apartment Communities in the first quarter valued at $26,000. Versant Capital Management Inc boosted its holdings in Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares during the last quarter. UMB Bank n.a. boosted its holdings in Mid-America Apartment Communities by 82.4% in the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in Mid-America Apartment Communities by 305.1% in the second quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 238 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MAA. Piper Sandler upped their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price target on the stock. Raymond James raised shares of 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 note on Monday, October 21st. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Finally, Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their target price for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.75.

Mid-America Apartment Communities Price Performance

Shares of MAA traded up $0.28 during mid-day trading on Thursday, hitting $152.43. 686,672 shares of the company were exchanged, compared to its average volume of 749,013. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $167.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The company has a 50 day moving average of $158.30 and a 200-day moving average of $145.74. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.86%. Mid-America Apartment Communities’s payout ratio is 123.27%.

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.