Wesbanco Bank Inc. Reduces Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wesbanco Bank Inc. reduced its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,034 shares of the real estate investment trust’s stock after selling 647 shares during the quarter. Wesbanco Bank Inc.’s holdings in Mid-America Apartment Communities were worth $800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. DecisionPoint Financial LLC acquired a new position in Mid-America Apartment Communities during the 1st quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth $26,000. Mather Group LLC. acquired a new stake in Mid-America Apartment Communities in the 1st quarter valued at about $32,000. Versant Capital Management Inc grew its position in Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 215 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares during the period. Institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of research reports. Piper Sandler raised their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Scotiabank lifted 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 report on Monday, September 16th. Truist Financial upped their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Finally, Royal Bank of Canada increased their price target on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $159.91.

Mid-America Apartment Communities Price Performance

MAA opened at $152.66 on Wednesday. The company has a fifty day simple moving average of $158.10 and a 200 day simple moving average of $144.01. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a market cap of $17.83 billion, a P/E ratio of 32.00, a P/E/G ratio of 2.47 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $167.39.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

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.