DAVENPORT & Co LLC Acquires 5,520 Shares of Mid-America Apartment Communities, Inc. $MAA

Key Points

• DAVENPORT & Co LLC increased its holdings in Mid-America Apartment Communities, acquiring an additional 5,520 shares, raising its total to 18,450 shares, valued at approximately $2.73 million.
• Mid-America Apartment Communities has announced a quarterly dividend of $1.515 per share, up from its previous dividend of $1.06, with a dividend yield of 4.5%.
• Analysts have mixed opinions on the stock, with eight buying, ten holding, and three selling ratings; the consensus target price is $161.78.

DAVENPORT & Co LLC grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 42.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,450 shares of the real estate investment trust's stock after buying an additional 5,520 shares during the quarter. DAVENPORT & Co LLC's holdings in Mid-America Apartment Communities were worth $2,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. 111 Capital bought a new position in shares of Mid-America Apartment Communities during the second quarter valued at approximately $417,000. QRG Capital Management Inc. grew its stake in shares of Mid-America Apartment Communities by 10.0% during the second quarter. QRG Capital Management Inc. now owns 56,015 shares of the real estate investment trust's stock valued at $8,291,000 after buying an additional 5,080 shares during the last quarter. Ascent Group LLC grew its stake in shares of Mid-America Apartment Communities by 8.1% during the second quarter. Ascent Group LLC now owns 1,573 shares of the real estate investment trust's stock valued at $233,000 after buying an additional 118 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Mid-America Apartment Communities during the second quarter valued at approximately $74,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mid-America Apartment Communities by 9.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,019 shares of the real estate investment trust's stock valued at $2,963,000 after buying an additional 1,780 shares during the last quarter. Institutional investors own 93.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MAA shares. Barclays dropped their price objective on Mid-America Apartment Communities from $156.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 30th. Morgan Stanley dropped their price objective on Mid-America Apartment Communities from $177.00 to $169.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 13th. BNP Paribas cut Mid-America Apartment Communities from a "hold" rating to a "strong sell" rating in a research note on Monday, September 29th. The Goldman Sachs Group cut Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price objective on the stock. in a research note on Friday, July 11th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Mid-America Apartment Communities in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $161.78.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $135.87 on Thursday. Mid-America Apartment Communities, Inc. has a 12 month low of $134.97 and a 12 month high of $173.38. The stock has a fifty day moving average price of $141.00 and a 200-day moving average price of $150.30. 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 firm has a market cap of $15.91 billion, a PE ratio of 27.96, a P/E/G ratio of 3.64 and a beta of 0.77.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $2.14 by $0.01. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%.The firm had revenue of $549.90 million during the quarter, compared to analyst estimates of $552.19 million. During the same quarter in the prior year, the business posted $2.22 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. Mid-America Apartment Communities has set its Q3 2025 guidance at 2.080-2.240 EPS. FY 2025 guidance at 8.650-8.890 EPS. Equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.5%. This is a boost from Mid-America Apartment Communities's previous quarterly dividend of $1.06. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 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.

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