QRG Capital Management Inc. Acquires 909 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

QRG Capital Management Inc. lifted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,065 shares of the real estate investment trust’s stock after buying an additional 909 shares during the quarter. QRG Capital Management Inc.’s holdings in Mid-America Apartment Communities were worth $3,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MAA. Norges Bank bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth $713,500,000. Massachusetts Financial Services Co. MA grew its position in shares of Mid-America Apartment Communities by 188.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock worth $195,179,000 after buying an additional 949,171 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Mid-America Apartment Communities by 96.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock worth $164,085,000 after buying an additional 600,547 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Mid-America Apartment Communities by 103.1% in the fourth quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock valued at $138,499,000 after buying an additional 522,851 shares during the period. Finally, Anchor Capital Advisors LLC boosted its stake in Mid-America Apartment Communities by 10,178.6% in the fourth quarter. Anchor Capital Advisors LLC now owns 349,575 shares of the real estate investment trust’s stock valued at $47,004,000 after acquiring an additional 346,174 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

NYSE MAA traded up $2.68 on Tuesday, hitting $142.63. 663,043 shares of the company’s stock were exchanged, compared to its average volume of 781,628. The stock has a 50-day moving average of $137.56 and a 200-day moving average of $132.60. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 3.13 and a beta of 0.85. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $156.28. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.01). The business had revenue of $543.60 million for the quarter, compared to the consensus estimate of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. Mid-America Apartment Communities’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 earnings per share. Analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is 123.27%.

Wall Street Analysts Forecast Growth

MAA has been the topic of a number of analyst reports. Truist Financial increased their price target on Mid-America Apartment Communities from $148.00 to $156.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Morgan Stanley increased their price target on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th. Piper Sandler restated a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Wells Fargo & Company upped their price target on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Finally, Mizuho increased their target price on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and an average price target of $142.44.

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.