Swedbank AB Has $32.35 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Swedbank AB raised its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,587 shares of the real estate investment trust’s stock after buying an additional 5,178 shares during the quarter. Swedbank AB owned about 0.17% of Mid-America Apartment Communities worth $32,350,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Cerity Partners LLC raised its stake in Mid-America Apartment Communities by 169.7% during the 3rd quarter. Cerity Partners LLC now owns 13,511 shares of the real estate investment trust’s stock valued at $2,147,000 after purchasing an additional 8,501 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Mid-America Apartment Communities by 386.6% during the third quarter. Raymond James Trust N.A. now owns 6,948 shares of the real estate investment trust’s stock valued at $1,104,000 after buying an additional 5,520 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Mid-America Apartment Communities in the third quarter valued at about $4,304,000. Activest Wealth Management acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $32,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Mid-America Apartment Communities by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust’s stock valued at $215,402,000 after acquiring an additional 39,123 shares during the period. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

MAA opened at $162.00 on Tuesday. 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 $18.93 billion, a P/E ratio of 36.57, a price-to-earnings-growth ratio of 2.59 and a beta of 0.88. The company’s 50 day simple moving average is $156.76 and its 200-day simple moving average is $149.14. 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 announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.29 earnings per share. 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is 132.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wedbush lifted their price objective on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Truist Financial boosted their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. 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 report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $161.64.

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.