Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lessened its position in Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 6,533 shares of the real estate investment trust’s stock after selling 141 shares during the quarter. Baird Financial Group Inc.’s holdings in Mid-America Apartment Communities were worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MAA. Cohen & Steers Inc. increased its stake in Mid-America Apartment Communities by 532.4% during the 1st quarter. Cohen & Steers Inc. now owns 727,368 shares of the real estate investment trust’s stock valued at $152,347,000 after buying an additional 612,352 shares during the period. Centersquare Investment Management LLC increased its stake in Mid-America Apartment Communities by 76.9% during the 1st quarter. Centersquare Investment Management LLC now owns 1,347,471 shares of the real estate investment trust’s stock valued at $282,228,000 after buying an additional 585,804 shares during the period. State Street Corp increased its stake in Mid-America Apartment Communities by 7.5% during the 1st quarter. State Street Corp now owns 7,880,764 shares of the real estate investment trust’s stock valued at $1,650,626,000 after buying an additional 547,369 shares during the period. Renaissance Technologies LLC increased its stake in Mid-America Apartment Communities by 3,382.8% during the 1st quarter. Renaissance Technologies LLC now owns 398,749 shares of the real estate investment trust’s stock valued at $83,518,000 after buying an additional 387,300 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Mid-America Apartment Communities by 106.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 709,109 shares of the real estate investment trust’s stock valued at $148,523,000 after buying an additional 365,978 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $158.71 on Friday. Mid-America Apartment Communities, Inc. has a one year low of $141.13 and a one year high of $231.63. The company has a 50-day moving average of $155.06 and a two-hundred day moving average of $168.15. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 9.32 and a beta of 0.74. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.08 and a quick ratio of 0.08.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, October 14th were issued a dividend of $1.25 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. This represents a $5.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Thursday, October 13th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 92.25%.

Wall Street Analyst Weigh In

Several research firms have commented on MAA. Truist Financial raised their target price on shares of Mid-America Apartment Communities from $188.00 to $198.00 in a research note on Wednesday, August 24th. Barclays reduced their price objective on shares of Mid-America Apartment Communities from $215.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. Raymond James restated a “downgrade” rating on shares of Mid-America Apartment Communities in a research report on Thursday, August 4th. JMP Securities upgraded shares of Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Friday, July 29th. Finally, Piper Sandler reduced their price objective on shares of Mid-America Apartment Communities to $185.00 in a research report on Tuesday, November 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.31.

Mid-America Apartment Communities Profile

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MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

Further Reading

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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