Brooklyn Investment Group Purchases Shares of 437 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Brooklyn Investment Group purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 437 shares of the real estate investment trust’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds have also modified their holdings of MAA. Massachusetts Financial Services Co. MA increased its stake in Mid-America Apartment Communities by 17.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after acquiring an additional 393,067 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Mid-America Apartment Communities by 6.0% in the 2nd 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 acquiring an additional 97,672 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Mid-America Apartment Communities by 2.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after purchasing an additional 44,621 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Mid-America Apartment Communities by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust’s stock worth $215,402,000 after acquiring an additional 39,123 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in shares of Mid-America Apartment Communities by 7.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock valued at $162,616,000 after purchasing an additional 74,936 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Up 1.3 %

Shares of NYSE:MAA opened at $165.20 on Friday. 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 one year low of $121.51 and a one year high of $167.39. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.88. The firm has a fifty day moving average price of $156.68 and a two-hundred day moving average price of $149.63.

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

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.56%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. JMP Securities increased their price target on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price on the stock in a report on Monday, October 21st. BNP Paribas began coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target for the company. Finally, Wedbush lifted their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average price target of $162.68.

About Mid-America Apartment Communities

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.