900,857 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Mid-America Apartment Communities, purchasing 900,857 shares valued at approximately $150.97 million, representing 0.77% of the company.
• The firm recently announced a quarterly dividend of $1.515 per share, resulting in an annualized yield of 4.4%, although its payout ratio stands at 124.69%.
• Analysts have varying outlooks on MAA, with price targets ranging from $142 to $172, and an average rating of "Hold" from the majority of analysts.

Nuveen LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 900,857 shares of the real estate investment trust's stock, valued at approximately $150,966,000. Nuveen LLC owned approximately 0.77% of Mid-America Apartment Communities as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Larson Financial Group LLC lifted its position in shares of Mid-America Apartment Communities by 107.1% during the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 91 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 112 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Mid-America Apartment Communities during the first quarter worth $38,000. GoalVest Advisory LLC lifted its position in shares of Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 160 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Mid-America Apartment Communities during the first quarter worth $46,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

NYSE MAA traded up $0.33 during trading hours on Thursday, hitting $140.10. 879,776 shares of the company's stock traded hands, compared to its average volume of 907,349. 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 market capitalization of $16.40 billion, a PE ratio of 28.83, a PEG ratio of 3.70 and a beta of 0.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The firm's 50-day moving average is $148.06 and its 200-day moving average is $155.60.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.01. The business 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 business's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 EPS. Equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were paid a $1.515 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.3%. Mid-America Apartment Communities's payout ratio is currently 124.69%.

Analysts Set New Price Targets

MAA has been the topic of a number of recent analyst reports. Truist Financial lowered their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. UBS Group lowered their price objective on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating for the company in a report on Tuesday, July 15th. Royal Bank Of Canada lowered their price objective 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. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Sunday. Finally, JMP Securities raised their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and an average price target of $163.21.

Mid-America Apartment Communities 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.