Marco Investment Management LLC Takes $208,000 Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Marco Investment Management LLC purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,311 shares of the real estate investment trust’s stock, valued at approximately $208,000.

Other hedge funds have also bought and sold shares of the company. Johnson Investment Counsel Inc. grew its position in shares of 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. boosted its holdings in Mid-America Apartment Communities by 0.8% in the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after purchasing an additional 78 shares during the period. V Square Quantitative Management LLC increased its stake 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 purchasing an additional 87 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Advocates Investment Management raised its holdings in shares of Mid-America Apartment Communities by 4.2% during the third quarter. Financial Advocates Investment Management now owns 2,308 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 93 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective 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. Piper Sandler increased their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $160.94 on Monday. The stock has a market cap of $18.81 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.59 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 12 month low of $121.38 and a 12 month high of $167.39. The stock’s 50 day moving average price is $156.76 and its 200 day moving average price is $149.14.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.65%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

About Mid-America Apartment Communities

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.