Roanoke Asset Management Corp NY Boosts Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Roanoke Asset Management Corp NY increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,910 shares of the real estate investment trust’s stock after buying an additional 300 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Mid-America Apartment Communities were worth $621,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new position in shares of Mid-America Apartment Communities in the second quarter worth about $26,000. Versant Capital Management Inc increased its stake in shares of Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Mid-America Apartment Communities by 82.4% in the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Mid-America Apartment Communities by 305.1% in the second quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 238 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 252.3% in the second quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Down 1.4 %

Shares of MAA opened at $149.17 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. Mid-America Apartment Communities, Inc. has a 1 year low of $118.68 and a 1 year high of $167.39. The company has a 50 day simple moving average of $158.25 and a two-hundred day simple moving average of $145.78. The firm has a market cap of $17.43 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Analysts Set New Price Targets

MAA has been the subject of a number of analyst reports. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research report on Monday, October 21st. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, UBS Group raised their price objective on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.69.

Mid-America Apartment Communities 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.