Pathway Financial Advisers LLC Buys New Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Pathway Financial Advisers LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the first quarter, according to its most recent filing with the SEC. The firm bought 2,369 shares of the real estate investment trust’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in Mid-America Apartment Communities by 323.8% in the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock valued at $5,430,000 after buying an additional 30,855 shares during the last quarter. Perpetual Ltd acquired a new position in Mid-America Apartment Communities in the 1st quarter valued at $15,413,000. Miller Howard Investments Inc. NY grew its stake in Mid-America Apartment Communities by 9.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock valued at $25,984,000 after buying an additional 17,765 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Mid-America Apartment Communities by 163.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after buying an additional 13,474 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Mid-America Apartment Communities by 159.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock valued at $3,531,000 after buying an additional 16,144 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA traded up $3.61 during trading on Friday, reaching $150.02. The company had a trading volume of 1,152,170 shares, compared to its average volume of 654,960. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $152.02. The stock has a market cap of $17.53 billion, a PE ratio of 31.45, a PEG ratio of 3.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The business’s 50 day moving average price is $139.74 and its 200-day moving average price is $133.60.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.25% and a net margin of 23.73%. The company had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.44 million. During the same period in the prior year, the firm posted $2.28 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Analysts expect that Mid-America Apartment Communities, Inc. will post 8.85 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is 123.27%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MAA. Truist Financial raised their price target 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. Wedbush upgraded shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $135.00 to $154.00 in a research report on Monday, May 6th. Wells Fargo & Company raised their price target on shares of 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. Morgan Stanley raised their price target on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 15th. Finally, Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.38.

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.