Centersquare Investment Management LLC Buys 294,245 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Centersquare Investment Management LLC significantly increased its stake in Mid-America Apartment Communities, owning 412,895 shares after acquiring an additional 294,245 shares, representing a 248% growth during the first quarter.
• Mid-America Apartment Communities announced a quarterly dividend of $1.515, which translates to an annualized dividend yield of 4.3%, despite a payout ratio of 124.69%.
• Analysts have mixed views on the stock, with Barclays raising its target price to $172.00, while Wall Street Zen downgraded it from a "hold" to a "sell" rating.

Centersquare Investment Management LLC grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 248.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 412,895 shares of the real estate investment trust's stock after buying an additional 294,245 shares during the quarter. Centersquare Investment Management LLC owned 0.35% of Mid-America Apartment Communities worth $69,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alhambra Investment Management LLC boosted its holdings in shares of Mid-America Apartment Communities by 3.1% during the first quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock worth $363,000 after purchasing an additional 66 shares during the period. Stephens Inc. AR raised its position in Mid-America Apartment Communities by 2.6% during the 1st quarter. Stephens Inc. AR now owns 2,762 shares of the real estate investment trust's stock valued at $463,000 after purchasing an additional 70 shares during the last quarter. Avantax Advisory Services Inc. raised its position in Mid-America Apartment Communities by 3.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,353 shares of the real estate investment trust's stock valued at $394,000 after purchasing an additional 80 shares during the last quarter. Signaturefd LLC lifted its holdings in Mid-America Apartment Communities by 2.9% in the 1st quarter. Signaturefd LLC now owns 2,851 shares of the real estate investment trust's stock worth $478,000 after buying an additional 81 shares during the period. Finally, AlphaStar Capital Management LLC grew its position in shares of Mid-America Apartment Communities by 2.8% in the 1st quarter. AlphaStar Capital Management LLC now owns 3,158 shares of the real estate investment trust's stock worth $529,000 after buying an additional 87 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MAA. Scotiabank reduced their target price on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, June 13th. The Goldman Sachs Group lowered shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price objective for the company. in a report on Friday, July 11th. JMP Securities raised their target price on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 22nd. Evercore ISI reduced their price target on shares of Mid-America Apartment Communities from $163.00 to $155.00 and set an "in-line" rating on the stock in a research report on Monday. Finally, Robert W. Baird raised their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $166.95.

Mid-America Apartment Communities Stock Up 1.1%

NYSE:MAA traded up $1.48 on Thursday, reaching $142.09. 587,325 shares of the stock traded hands, compared to its average volume of 927,394. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $16.63 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 3.76 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 12 month low of $138.67 and a 12 month high of $173.38. The company's fifty day simple moving average is $149.25 and its 200 day simple moving average is $155.85.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.01. The company had revenue of $549.90 million during the quarter, compared to the consensus estimate of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 earnings per share. Equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a dividend of $1.515 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 124.69%.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.