Brown Brothers Harriman & Co. Raises Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Brown Brothers Harriman & Co. boosted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,057 shares of the real estate investment trust’s stock after purchasing an additional 82 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Mid-America Apartment Communities were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. raised its position in shares of Mid-America Apartment Communities by 1.1% in the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after buying an additional 77 shares in the last quarter. Telos Capital Management Inc. raised its holdings in shares of Mid-America Apartment Communities by 0.8% in the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after acquiring an additional 78 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Mid-America Apartment Communities by 6.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 87 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Advocates Investment Management increased its position in shares of Mid-America Apartment Communities by 4.2% in the third quarter. Financial Advocates Investment Management now owns 2,308 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 93 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

MAA stock opened at $163.14 on Wednesday. The stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 2.59 and a beta of 0.88. The firm’s 50-day moving average price is $156.67 and its two-hundred day moving average price is $149.32. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last announced 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 analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.60%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

Wall Street Analyst Weigh In

MAA has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. 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 target price for the company. Piper Sandler raised their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Scotiabank cut their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Finally, JMP Securities raised their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $161.64.

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.