Townsquare Capital LLC Acquires 4,259 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Townsquare Capital LLC raised its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,060 shares of the real estate investment trust’s stock after acquiring an additional 4,259 shares during the quarter. Townsquare Capital LLC’s holdings in Mid-America Apartment Communities were worth $8,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in Mid-America Apartment Communities by 56.9% in the third quarter. BNP Paribas Financial Markets now owns 168,313 shares of the real estate investment trust’s stock valued at $26,745,000 after acquiring an additional 61,047 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Mid-America Apartment Communities in the third quarter worth $69,000. Quantbot Technologies LP acquired a new stake in Mid-America Apartment Communities in the third quarter worth $249,000. D.A. Davidson & CO. raised its holdings in Mid-America Apartment Communities by 4.2% in the third quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 93 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Mid-America Apartment Communities by 1.5% in the third quarter. The Manufacturers Life Insurance Company now owns 89,290 shares of the real estate investment trust’s stock worth $14,188,000 after purchasing an additional 1,308 shares during the period. 93.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

MAA has been the topic of several analyst reports. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $138.00 to $174.00 in a report on Monday, August 26th. Piper Sandler increased their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Wedbush raised their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $165.20 on Thursday. The firm has a 50-day moving average of $156.65 and a 200-day moving average of $149.52. Mid-America Apartment Communities, Inc. has a one year low of $121.51 and a one year high of $167.39. The company has a market cap of $19.31 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same period last year, the business earned $2.29 EPS. The business’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

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.