Victory Capital Management Inc. Buys 7,020 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Victory Capital Management Inc. grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 19.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,886 shares of the real estate investment trust’s stock after acquiring an additional 7,020 shares during the period. Victory Capital Management Inc.’s holdings in Mid-America Apartment Communities were worth $6,815,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Mid-America Apartment Communities by 17.5% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in Mid-America Apartment Communities by 6.0% during the second 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 purchasing an additional 97,672 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Mid-America Apartment Communities by 2.8% in the second 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. 1832 Asset Management L.P. lifted its holdings in Mid-America Apartment Communities by 7.0% in the second 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 acquiring an additional 74,936 shares during the period. Finally, Ceredex Value Advisors LLC raised its position in Mid-America Apartment Communities by 107.1% in 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 acquiring an additional 342,335 shares during the period. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $158.67 on Friday. Mid-America Apartment Communities, Inc. has a twelve month low of $121.38 and a twelve month high of $167.39. The company has a market cap of $18.55 billion, a P/E ratio of 35.82, a P/E/G ratio of 2.55 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $156.87 and its 200-day moving average price is $148.77.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million during 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 business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $2.29 EPS. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.71%. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MAA. The Goldman Sachs Group assumed 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 target for the company. JMP Securities raised their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Wedbush raised their target price on shares of 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. Scotiabank decreased their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Finally, 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 research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average 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.