IRON Financial LLC increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,914 shares of the real estate investment trust’s stock after buying an additional 93 shares during the period. IRON Financial LLC’s holdings in Mid-America Apartment Communities were worth $450,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in MAA. Y Intercept Hong Kong Ltd purchased a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $2,890,000. Swedbank AB boosted its stake in shares of Mid-America Apartment Communities by 2.6% in the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock valued at $32,350,000 after purchasing an additional 5,178 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Mid-America Apartment Communities by 2.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock valued at $28,711,000 after purchasing an additional 4,301 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth approximately $4,304,000. Finally, Capital Investment Advisors LLC lifted its holdings in Mid-America Apartment Communities by 27.1% during the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust’s stock worth $9,040,000 after buying an additional 12,454 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities Stock Up 3.5 %
Shares of NYSE:MAA opened at $153.59 on Tuesday. 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. The stock has a market cap of $17.95 billion, a P/E ratio of 34.67, a P/E/G ratio of 2.37 and a beta of 0.91. The firm has a fifty day moving average price of $155.04 and a 200 day moving average price of $154.69.
Mid-America Apartment Communities Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $1.515 dividend. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.95%. Mid-America Apartment Communities’s payout ratio is presently 136.79%.
Wall Street Analysts Forecast Growth
MAA has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets cut their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a report on Tuesday, January 21st. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Scotiabank cut 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 note on Thursday, November 14th. Finally, Mizuho reduced their target price on shares of 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $166.00.
Read Our Latest Analysis on Mid-America Apartment Communities
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.
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