Paloma Partners Management Co Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Paloma Partners Management Co acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,409 shares of the real estate investment trust’s stock, valued at approximately $383,000.

Several other large investors have also made changes to their positions in the business. B. Riley Wealth Advisors Inc. boosted its holdings in Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 90 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Mid-America Apartment Communities by 33.0% during the first quarter. Cetera Investment Advisers now owns 51,421 shares of the real estate investment trust’s stock worth $6,766,000 after buying an additional 12,773 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Mid-America Apartment Communities during the second quarter worth $4,327,000. Gilman Hill Asset Management LLC boosted its holdings in Mid-America Apartment Communities by 5.8% during the second quarter. Gilman Hill Asset Management LLC now owns 3,669 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 200 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Mid-America Apartment Communities by 12.8% during 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 buying an additional 3,451 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MAA shares. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $138.00 to $174.00 in a report on Monday, August 26th. Piper Sandler upped their price objective on shares of 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 reduced their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $162.68.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $160.04 on Thursday. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39. The stock has a market cap of $18.71 billion, a P/E ratio of 36.13, a PEG ratio of 2.61 and a beta of 0.90. The company has a 50-day moving average price of $156.63 and a 200 day moving average price of $150.52. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same period last year, the business earned $2.29 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

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.