State of Alaska Department of Revenue Sells 7,020 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

State of Alaska Department of Revenue decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 75,431 shares of the real estate investment trust’s stock after selling 7,020 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Mid-America Apartment Communities worth $11,984,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Johnson Investment Counsel Inc. raised its position in Mid-America Apartment Communities by 1.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock valued at $996,000 after purchasing an additional 77 shares during the last quarter. Telos Capital Management Inc. increased its stake in shares of Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after buying an additional 78 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Mid-America Apartment Communities by 6.4% during the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 87 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Mid-America Apartment Communities by 5.4% in 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 acquiring an additional 90 shares during the period. Finally, Covestor Ltd lifted its stake in Mid-America Apartment Communities by 12.3% in the first quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 93 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MAA shares. Piper Sandler boosted their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. JMP Securities raised their price objective on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. BNP Paribas initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective on the stock. Finally, Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their target price for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities has an average rating of “Moderate Buy” and an average target price of $160.75.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $153.32 on Monday. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88. 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, Inc. has a one year low of $115.56 and a one year high of $167.39. The company’s 50-day moving average is $158.34 and its 200 day moving average is $145.38.

Mid-America Apartment Communities Announces Dividend

The company 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 dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 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.