Morey & Quinn Wealth Partners LLC Invests $553,000 in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Morey & Quinn Wealth Partners LLC acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, Holdings Channel reports. The fund acquired 3,579 shares of the real estate investment trust’s stock, valued at approximately $553,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its holdings in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 68 shares during the last quarter. Quarry LP acquired a new position in Mid-America Apartment Communities during the 3rd quarter valued at $45,000. UMB Bank n.a. boosted its holdings in Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 75 shares during the period. Catalyst Capital Advisors LLC grew its position in Mid-America Apartment Communities by 57.8% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 133 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Mid-America Apartment Communities in the 3rd quarter worth $63,000. Institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. BMO Capital Markets cut their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a report on Tuesday, January 21st. JMP Securities reissued a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $173.00 to $182.00 in a research note on Friday, February 14th. Finally, Wells Fargo & Company reduced their target price on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.90.

Mid-America Apartment Communities Stock Performance

MAA stock opened at $163.19 on Wednesday. The business’s fifty day moving average is $158.72 and its 200-day moving average is $157.48. The company has a market cap of $19.08 billion, a P/E ratio of 36.43, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a twelve month low of $123.73 and a twelve month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s payout ratio is currently 135.27%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.