Morey & Quinn Wealth Partners LLC Invests $553,000 in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Morey & Quinn Wealth Partners LLC bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,579 shares of the real estate investment trust’s stock, valued at approximately $553,000.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Mid-America Apartment Communities by 0.9% in the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock valued at $1,228,569,000 after buying an additional 65,696 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Mid-America Apartment Communities by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock worth $497,624,000 after purchasing an additional 48,168 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mid-America Apartment Communities by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,389,113 shares of the real estate investment trust’s stock valued at $214,715,000 after purchasing an additional 33,528 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Mid-America Apartment Communities by 516.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock valued at $170,694,000 after purchasing an additional 899,960 shares during the period. Finally, Aew Capital Management L P increased its stake in Mid-America Apartment Communities by 516.3% in the 4th quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust’s stock worth $97,533,000 after purchasing an additional 528,608 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Down 0.3 %

Mid-America Apartment Communities stock opened at $163.19 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a 1-year low of $123.73 and a 1-year high of $173.38. The firm’s fifty day simple moving average is $158.72 and its 200-day simple moving average is $157.48. The company has a market capitalization of $19.08 billion, a P/E ratio of 36.43, a P/E/G ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. Sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.71%. Mid-America Apartment Communities’s payout ratio is currently 135.27%.

Analysts Set New Price Targets

A number of analysts have commented on MAA shares. KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a report on Tuesday, December 17th. Morgan Stanley raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. StockNews.com raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $173.00 to $182.00 in a report on Friday, February 14th. Finally, Truist Financial lifted their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $168.90.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.