Charles Schwab Investment Management Inc. Grows Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Charles Schwab Investment Management Inc. increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,355,585 shares of the real estate investment trust’s stock after buying an additional 39,123 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Mid-America Apartment Communities were worth $215,402,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after purchasing an additional 393,067 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Mid-America Apartment Communities by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock valued at $244,803,000 after buying an additional 97,672 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Mid-America Apartment Communities by 2.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock valued at $234,497,000 after buying an additional 44,621 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Mid-America Apartment Communities by 7.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock worth $162,616,000 after buying an additional 74,936 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in shares of Mid-America Apartment Communities by 107.1% in the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after acquiring an additional 342,335 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAA has been the topic of several research reports. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research report on Monday, October 21st. Wedbush raised their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial lifted their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $160.94 on Friday. The stock has a market cap of $18.81 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 2.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 12 month low of $121.38 and a 12 month high of $167.39. The stock’s 50 day moving average price is $156.76 and its 200 day moving average price is $148.94.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.65%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

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.