Avanza Fonder AB Acquires New Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Avanza Fonder AB bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,297 shares of the real estate investment trust’s stock, valued at approximately $1,437,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $25,000. Activest Wealth Management acquired a new position in shares of Mid-America Apartment Communities in the third quarter worth $32,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities in the third quarter valued at $37,000. Quarry LP acquired a new stake in shares of Mid-America Apartment Communities during the third quarter valued at $45,000. Finally, EverSource Wealth Advisors LLC increased its position in Mid-America Apartment Communities by 252.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

MAA opened at $150.44 on Friday. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The company has a 50 day moving average of $156.20 and a two-hundred day moving average of $154.17. The company has a market cap of $17.58 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.37 and a beta of 0.91. 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 (NYSE:MAA) last announced its quarterly 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). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same period last year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts expect that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

Analysts Set New Price Targets

MAA has been the topic of a number of recent research reports. Barclays initiated coverage on shares of Mid-America Apartment Communities in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 target price on the stock. Scotiabank decreased their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target for the company in a report on Tuesday, December 17th. Mizuho decreased their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, January 10th. Two 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 MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus target price of $166.92.

Mid-America Apartment Communities Company Profile

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.