DNB Asset Management AS Purchases 2,539 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

DNB Asset Management AS grew its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 15.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,950 shares of the real estate investment trust’s stock after acquiring an additional 2,539 shares during the period. DNB Asset Management AS’s holdings in Mid-America Apartment Communities were worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAA. Wellington Management Group LLP lifted its position in Mid-America Apartment Communities by 323.8% during the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock valued at $5,430,000 after purchasing an additional 30,855 shares during the period. Perpetual Ltd bought a new position in shares of Mid-America Apartment Communities in the first quarter valued at $15,413,000. Miller Howard Investments Inc. NY increased its stake in shares of Mid-America Apartment Communities by 9.9% during the 1st quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock worth $25,984,000 after purchasing an additional 17,765 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Mid-America Apartment Communities by 163.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 13,474 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Mid-America Apartment Communities by 159.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock valued at $3,531,000 after acquiring an additional 16,144 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 2.5 %

NYSE:MAA traded up $3.72 on Tuesday, reaching $150.24. The stock had a trading volume of 844,113 shares, compared to its average volume of 774,140. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 3.27 and a beta of 0.85. The firm’s fifty day moving average is $140.01 and its two-hundred day moving average is $133.70. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $152.02.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a report on Thursday, June 13th. JMP Securities upped their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Friday. Wedbush upped their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Finally, Truist Financial increased their target price on Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $145.15.

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.