Raymond James Trust N.A. Has $1.10 Million Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Raymond James Trust N.A. boosted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 386.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,948 shares of the real estate investment trust’s stock after buying an additional 5,520 shares during the quarter. Raymond James Trust N.A.’s holdings in Mid-America Apartment Communities were worth $1,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Mid-America Apartment Communities during the 3rd quarter worth approximately $25,000. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities during the second quarter worth $26,000. Activest Wealth Management acquired a new position in shares of Mid-America Apartment Communities during the third quarter worth $32,000. Versant Capital Management Inc lifted its stake in shares of Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 215 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at $37,000. Institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

MAA has been the topic of several research reports. Wedbush boosted their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price target for the company from $144.00 to $189.00 in a research note on Monday, August 12th. Piper Sandler boosted their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. 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 report on Tuesday, September 10th. Finally, Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $138.00 to $174.00 in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $160.94 on Monday. The firm has a market capitalization of $18.81 billion, a P/E ratio of 36.33, a P/E/G ratio of 2.55 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 52 week low of $121.38 and a 52 week high of $167.39. The stock has a 50 day moving average price of $156.76 and a two-hundred day moving average price of $149.14. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

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 the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same quarter last year, the company posted $2.29 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 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.