Pacer Advisors Inc. Purchases 365 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Pacer Advisors Inc. grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,274 shares of the real estate investment trust’s stock after acquiring an additional 365 shares during the quarter. Pacer Advisors Inc.’s holdings in Mid-America Apartment Communities were worth $1,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at $26,000. DecisionPoint Financial LLC bought a new position in shares of Mid-America Apartment Communities during the first quarter valued at about $26,000. Versant Capital Management Inc increased its holdings 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 buying an additional 215 shares during the period. Mather Group LLC. bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $32,000. Finally, UMB Bank n.a. boosted its holdings in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 108 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $157.79 on Friday. The company has a market cap of $18.43 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 2.63 and a beta of 0.88. The business’s fifty day simple moving average is $155.64 and its two-hundred day simple moving average is $141.85. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $167.39. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.73%. Mid-America Apartment Communities’s payout ratio is 123.27%.

Analyst Ratings Changes

MAA has been the subject of several recent research reports. BNP Paribas began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. Piper Sandler upped their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $138.00 to $174.00 in a report on Monday, August 26th. Truist Financial upped their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.91.

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.