Roanoke Asset Management Corp NY Purchases 300 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Roanoke Asset Management Corp NY lifted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,910 shares of the real estate investment trust’s stock after purchasing an additional 300 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Mid-America Apartment Communities were worth $621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAA. Illinois Municipal Retirement Fund lifted its position in Mid-America Apartment Communities by 531.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the real estate investment trust’s stock valued at $5,831,000 after acquiring an additional 37,299 shares in the last quarter. QRG Capital Management Inc. lifted its position in Mid-America Apartment Communities by 12.8% in the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after acquiring an additional 3,451 shares in the last quarter. Swedbank AB bought a new stake in Mid-America Apartment Communities in the 1st quarter valued at $26,107,000. Prosperity Consulting Group LLC acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $2,572,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Mid-America Apartment Communities by 1,117.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 122,471 shares of the real estate investment trust’s stock valued at $16,115,000 after buying an additional 112,411 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday. Wedbush lifted their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research note on Monday, October 21st. Truist Financial boosted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, UBS Group boosted their price objective on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.69.

Mid-America Apartment Communities Stock Down 1.4 %

Mid-America Apartment Communities stock opened at $149.17 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $118.68 and a 1-year high of $167.39. The firm has a market capitalization of $17.43 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88. The firm’s fifty day moving average price is $158.25 and its two-hundred day moving average price is $145.78. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

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.