Peapack Gladstone Financial Corp Has $3.12 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Peapack Gladstone Financial Corp increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,189 shares of the real estate investment trust’s stock after purchasing an additional 101 shares during the period. Peapack Gladstone Financial Corp’s holdings in Mid-America Apartment Communities were worth $3,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in 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 stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $45,000. Headlands Technologies LLC bought a new position in Mid-America Apartment Communities during the 4th quarter worth approximately $46,000. UMB Bank n.a. grew its holdings in Mid-America Apartment Communities by 30.5% during the fourth 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. Finally, Catalyst Capital Advisors LLC increased its stake in Mid-America Apartment Communities by 57.8% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 133 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MAA. Evercore ISI lifted their price target on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Raymond James lifted their target price on Mid-America Apartment Communities from $180.00 to $185.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 20th. Royal Bank of Canada increased their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Wells Fargo & Company cut their price objective on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, BMO Capital Markets lowered their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.90.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $150.98 on Tuesday. The firm has a market capitalization of $17.65 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average price is $161.08 and its two-hundred day moving average price is $157.39. Mid-America Apartment Communities, Inc. has a 1 year low of $123.73 and a 1 year high of $173.38.

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

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.01%. Mid-America Apartment Communities’s payout ratio is 135.27%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the sale, the chief executive officer now owns 319,813 shares in the company, valued at approximately $47,949,563.09. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders sold 7,140 shares of company stock worth $1,142,842. 1.30% of the stock is owned by company insiders.

Mid-America Apartment Communities Profile

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.