Nomura Asset Management Co. Ltd. Raises Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Nomura Asset Management Co. Ltd. lifted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 180,689 shares of the real estate investment trust’s stock after buying an additional 4,301 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Mid-America Apartment Communities were worth $28,711,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MAA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Mid-America Apartment Communities by 516.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock worth $170,694,000 after acquiring an additional 899,960 shares during the last quarter. Duquesne Family Office LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter worth approximately $91,868,000. Long Pond Capital LP increased its stake in Mid-America Apartment Communities by 550.9% during the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock valued at $92,270,000 after purchasing an additional 547,607 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 worth $375,515,000 after buying an additional 393,067 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in shares of Mid-America Apartment Communities by 107.1% during the second quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after buying an additional 342,335 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAA. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Truist Financial raised their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. 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 research report on Monday, October 21st. Scotiabank cut their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $162.68.

Mid-America Apartment Communities Trading Down 0.3 %

Shares of Mid-America Apartment Communities stock opened at $158.64 on Wednesday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market cap of $18.54 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90. The firm has a 50-day simple moving average of $156.69 and a two-hundred day simple moving average of $151.30.

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 analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.515 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 dividend on an annualized basis and a yield of 3.82%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

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.