BCS Wealth Management acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the first quarter, HoldingsChannel.com reports. The fund acquired 1,525 shares of the real estate investment trust’s stock, valued at approximately $220,000.
A number of other large investors have also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its stake in shares of Mid-America Apartment Communities by 12.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 35,919 shares of the real estate investment trust’s stock worth $4,551,000 after purchasing an additional 4,011 shares in the last quarter. Northern Trust Corp grew its stake in Mid-America Apartment Communities by 19.4% in the 4th quarter. Northern Trust Corp now owns 2,207,230 shares of the real estate investment trust’s stock worth $279,634,000 after acquiring an additional 358,891 shares during the period. Sarasin & Partners LLP purchased a new stake in Mid-America Apartment Communities in the 4th quarter worth approximately $7,161,000. Campion Asset Management LLC purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth approximately $1,366,000. Finally, Redpoint Investment Management Pty Ltd purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth approximately $1,689,000. Hedge funds and other institutional investors own 91.38% of the company’s stock.
A number of equities analysts have weighed in on the stock. Robert W. Baird lowered shares of Mid-America Apartment Communities from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $132.00 to $137.00 in a report on Tuesday, February 9th. Mizuho lifted their target price on shares of Mid-America Apartment Communities from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Monday, March 15th. Royal Bank of Canada began coverage on shares of Mid-America Apartment Communities in a report on Tuesday, March 30th. They issued a “sector perform” rating and a $146.00 price objective on the stock. Finally, Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $132.00 to $145.00 in a report on Friday, January 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $134.36.
NYSE MAA opened at $157.11 on Tuesday. The company has a 50-day moving average price of $148.96 and a two-hundred day moving average price of $133.39. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 56.32 and a beta of 0.66. Mid-America Apartment Communities, Inc. has a 52 week low of $102.23 and a 52 week high of $158.35. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($1.21). Mid-America Apartment Communities had a return on equity of 5.63% and a net margin of 19.22%. The company had revenue of $425.01 million during the quarter, compared to analyst estimates of $423.65 million. During the same period in the prior year, the company posted $1.62 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 6.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Stockholders of record on Thursday, April 15th were issued a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Wednesday, April 14th. Mid-America Apartment Communities’s payout ratio is 62.60%.
In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 677 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total value of $99,139.88. Following the completion of the sale, the executive vice president now owns 18,306 shares in the company, valued at approximately $2,680,730.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Eric Bolton, Jr. sold 12,581 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total transaction of $1,842,361.64. Following the completion of the transaction, the chief executive officer now directly owns 284,513 shares in the company, valued at approximately $41,664,083.72. The disclosure for this sale can be found here. Insiders have sold a total of 14,632 shares of company stock valued at $2,142,710 over the last ninety days. 1.34% of the stock is owned by insiders.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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