CENTRAL TRUST Co Increases Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

CENTRAL TRUST Co lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3,664.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,635 shares of the real estate investment trust’s stock after acquiring an additional 2,565 shares during the quarter. CENTRAL TRUST Co’s holdings in Mid-America Apartment Communities were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Mid-America Apartment Communities by 323.8% during the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock valued at $5,430,000 after purchasing an additional 30,855 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in Mid-America Apartment Communities by 172.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 16,154 shares of the real estate investment trust’s stock valued at $2,126,000 after buying an additional 10,227 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Mid-America Apartment Communities by 531.5% during the first quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the real estate investment trust’s stock worth $5,831,000 after buying an additional 37,299 shares during the last quarter. QRG Capital Management Inc. raised its position 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 worth $4,352,000 after acquiring an additional 3,451 shares during the period. Finally, Swedbank AB purchased a new position in Mid-America Apartment Communities in the first quarter valued at about $26,107,000. 93.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MAA. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target for the company. JMP Securities raised their target price on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Truist Financial upped their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Scotiabank increased their price target on Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group initiated coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.75.

Mid-America Apartment Communities Trading Down 1.8 %

Shares of MAA stock opened at $153.32 on Friday. The company has a market capitalization of $17.92 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39. The business’s fifty day moving average is $158.34 and its 200 day moving average is $145.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.47 per share. The ex-dividend date is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.84%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 133.94%.

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.