Advisors Asset Management Inc. Buys 927 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Advisors Asset Management Inc. increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 55.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,594 shares of the real estate investment trust’s stock after acquiring an additional 927 shares during the quarter. Advisors Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MAA. Tcwp LLC bought a new position in Mid-America Apartment Communities during the 1st quarter worth approximately $29,000. Clear Street Markets LLC grew its position in shares of Mid-America Apartment Communities by 410.6% in the 2nd quarter. Clear Street Markets LLC now owns 240 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 193 shares during the last quarter. CX Institutional bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $44,000. Pinnacle Bancorp Inc. bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $45,000. Finally, Total Clarity Wealth Management Inc. bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $80,000. 93.01% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Up 1.8 %

MAA stock opened at $158.71 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $141.13 and a 1-year high of $231.63. The business has a fifty day moving average price of $155.06 and a 200-day moving average price of $168.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $18.33 billion, a P/E ratio of 29.28, a P/E/G ratio of 9.25 and a beta of 0.74.

Mid-America Apartment Communities Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MAA shares. Jefferies Financial Group cut their price objective on Mid-America Apartment Communities from $210.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Raymond James restated a “downgrade” rating on shares of Mid-America Apartment Communities in a research report on Thursday, August 4th. Citigroup lifted their price target on Mid-America Apartment Communities to $190.00 in a research report on Tuesday, August 9th. StockNews.com initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, JMP Securities upgraded Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has an average rating of “Moderate Buy” and a consensus price target of $197.31.

Mid-America Apartment Communities Company 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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