EP Wealth Advisors LLC Makes New $547,000 Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

EP Wealth Advisors LLC acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the third quarter, Holdings Channel reports. The institutional investor acquired 3,441 shares of the real estate investment trust’s stock, valued at approximately $547,000.

A number of other institutional investors have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Mid-America Apartment Communities by 516.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock valued at $170,694,000 after purchasing an additional 899,960 shares in the last quarter. Duquesne Family Office LLC bought a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $91,868,000. Long Pond Capital LP increased its position in shares of Mid-America Apartment Communities by 550.9% in the second quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock valued at $92,270,000 after acquiring an additional 547,607 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after acquiring an additional 393,067 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in Mid-America Apartment Communities by 107.1% during the second quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock valued at $94,424,000 after purchasing an additional 342,335 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MAA shares. Piper Sandler boosted their price target on 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 dropped their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Truist Financial lifted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $138.00 to $174.00 in a report on Monday, August 26th. Finally, The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $162.68.

Mid-America Apartment Communities Trading Down 0.1 %

Shares of Mid-America Apartment Communities stock opened at $158.33 on Thursday. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The stock has a market cap of $18.51 billion, a PE ratio of 35.74, a PEG ratio of 2.56 and a beta of 0.90. The firm has a 50-day moving average of $156.71 and a 200-day moving average of $151.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the previous year, the company earned $2.29 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 3.83%. Mid-America Apartment Communities’s 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.