Manning & Napier Advisors LLC Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Manning & Napier Advisors LLC bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,343 shares of the real estate investment trust’s stock, valued at approximately $4,327,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAA. First United Bank & Trust bought a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $27,000. DecisionPoint Financial LLC bought a new position in shares of Mid-America Apartment Communities in the first quarter valued at approximately $26,000. Versant Capital Management Inc lifted its stake in shares of Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 215 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth $32,000. Finally, Emfo LLC acquired a new position in Mid-America Apartment Communities in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a report on Thursday, July 18th. Wedbush raised their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price target on Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Scotiabank raised their price objective on shares of Mid-America Apartment Communities from $144.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and an average target price of $145.56.

Mid-America Apartment Communities Stock Performance

NYSE:MAA remained flat at $153.07 during mid-day trading on Friday. 765,238 shares of the company traded hands, compared to its average volume of 778,631. The firm has a market cap of $17.88 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 3.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $154.19. The company has a fifty day simple moving average of $141.70 and a two-hundred day simple moving average of $134.18.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were issued a $1.47 dividend. The ex-dividend date was Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.84%. Mid-America Apartment Communities’s payout ratio is presently 123.27%.

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.