Citigroup Inc. lifted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 44.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,101 shares of the real estate investment trust's stock after buying an additional 40,957 shares during the period. Citigroup Inc. owned approximately 0.11% of Mid-America Apartment Communities worth $22,473,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MAA. Larson Financial Group LLC boosted its stake in Mid-America Apartment Communities by 107.1% during the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 91 shares during the period. CoreCap Advisors LLC boosted its stake in Mid-America Apartment Communities by 94.9% during the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 112 shares during the period. GoalVest Advisory LLC boosted its stake in Mid-America Apartment Communities by 200.0% during the 1st quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 160 shares during the period. NBC Securities Inc. acquired a new stake in Mid-America Apartment Communities during the 1st quarter worth $46,000. Finally, Wayfinding Financial LLC acquired a new stake in Mid-America Apartment Communities during the 1st quarter worth $60,000. 93.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
MAA has been the subject of a number of recent research reports. JMP Securities increased their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 22nd. Morgan Stanley cut their price target on shares of Mid-America Apartment Communities from $177.00 to $169.00 and set an "overweight" rating for the company in a report on Wednesday. Piper Sandler cut their price target on shares of Mid-America Apartment Communities from $170.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Royal Bank Of Canada cut their price target on shares of Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Finally, Raymond James Financial downgraded shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $163.21.
View Our Latest Research Report on MAA
Mid-America Apartment Communities Trading Up 0.6%
Shares of NYSE MAA traded up $0.85 during midday trading on Friday, reaching $140.88. 927,467 shares of the stock were exchanged, compared to its average volume of 907,478. The company has a market capitalization of $16.49 billion, a P/E ratio of 28.99, a P/E/G ratio of 3.74 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 52-week low of $137.32 and a 52-week high of $173.38. 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 stock has a 50 day moving average price of $147.87 and a 200-day moving average price of $155.51.
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 analysts' consensus estimates of $2.14 by $0.01. The firm had revenue of $549.90 million for the quarter, compared to analysts' expectations of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. Mid-America Apartment Communities's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.22 earnings per share. Equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.
Mid-America Apartment Communities Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is 124.69%.
Mid-America Apartment Communities Company Profile
(
Free Report)
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.
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