Eagle Asset Management Inc. Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Eagle Asset Management Inc. acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,042 shares of the real estate investment trust’s stock, valued at approximately $4,304,000.

Several other hedge funds have also modified their holdings of MAA. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities in the third quarter valued at $25,000. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter valued at approximately $26,000. Versant Capital Management Inc boosted its stake in shares of Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 215 shares in the last quarter. Activest Wealth Management purchased a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $32,000. Finally, UMB Bank n.a. boosted its stake in shares of 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 in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Trading Up 1.5 %

Mid-America Apartment Communities stock opened at $160.94 on Monday. The firm has a 50 day simple moving average of $156.76 and a 200-day simple moving average of $149.14. 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 $18.81 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.55 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12-month low of $121.38 and a 12-month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company’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. As a group, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

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

Analyst Upgrades and Downgrades

MAA has been the subject of several research reports. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. Piper Sandler upped their price target on shares of 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. 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 target for the company in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Truist Financial increased 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 report on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $161.64.

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.