Brown Brothers Harriman & Co. Has $962,000 Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Brown Brothers Harriman & Co. boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,057 shares of the real estate investment trust’s stock after buying an additional 82 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Mid-America Apartment Communities were worth $962,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MAA. QRG Capital Management Inc. boosted its holdings in Mid-America Apartment Communities by 12.8% in the second quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after acquiring an additional 3,451 shares during the last quarter. Swedbank AB acquired a new position in Mid-America Apartment Communities in the first quarter valued at $26,107,000. Prosperity Consulting Group LLC bought a new stake in Mid-America Apartment Communities during the second quarter valued at $2,572,000. Portside Wealth Group LLC acquired a new stake in Mid-America Apartment Communities during the 2nd quarter worth about $808,000. Finally, Bank of Montreal Can raised its position in shares of Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after acquiring an additional 8,984 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

MAA has been the subject of several recent analyst reports. Scotiabank decreased their target price on 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. Piper Sandler upped their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. BNP Paribas began coverage on 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. Raymond James upgraded 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. Finally, The Goldman Sachs Group initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.64.

Mid-America Apartment Communities Stock Up 0.7 %

Mid-America Apartment Communities stock opened at $163.14 on Wednesday. The firm has a 50 day moving average price of $156.67 and a 200-day moving average price of $149.32. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. The company has a market capitalization of $19.07 billion, a P/E ratio of 36.83, a P/E/G ratio of 2.59 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results 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 firm had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 dividend on an annualized basis and a yield of 3.60%. Mid-America Apartment Communities’s dividend payout ratio is 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.