Townsquare Capital LLC Buys 4,259 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Townsquare Capital LLC increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 53,060 shares of the real estate investment trust’s stock after buying an additional 4,259 shares during the period. Townsquare Capital LLC’s holdings in Mid-America Apartment Communities were worth $8,431,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Mid-America Apartment Communities by 56.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 168,313 shares of the real estate investment trust’s stock worth $26,745,000 after buying an additional 61,047 shares during the period. Brooklyn Investment Group bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $69,000. Quantbot Technologies LP bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $249,000. D.A. Davidson & CO. raised its stake in Mid-America Apartment Communities by 4.2% in the 3rd quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 93 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Mid-America Apartment Communities by 1.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 89,290 shares of the real estate investment trust’s stock worth $14,188,000 after purchasing an additional 1,308 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

MAA stock opened at $165.20 on Thursday. The company has a 50 day simple moving average of $156.65 and a 200 day simple moving average of $149.52. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 37.29, a P/E/G ratio of 2.61 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 1 year low of $121.51 and a 1 year high of $167.39. 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 (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 3.56%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Wall Street Analyst Weigh In

MAA has been the subject of several analyst reports. BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. Piper Sandler lifted their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Truist Financial lifted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Scotiabank dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Finally, Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.