TT Capital Management LLC Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

TT Capital Management LLC bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,010 shares of the real estate investment trust’s stock, valued at approximately $605,000.

Several other hedge funds also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in shares of Mid-America Apartment Communities by 37.2% in 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. Headlands Technologies LLC acquired a new stake in Mid-America Apartment Communities during the 4th quarter worth about $46,000. UMB Bank n.a. grew its stake in Mid-America Apartment Communities by 30.5% during 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 last quarter. Catalyst Capital Advisors LLC increased its holdings in shares of 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 during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Mid-America Apartment Communities in the third quarter valued at about $63,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on MAA. Barclays dropped their target price on Mid-America Apartment Communities from $163.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Wells Fargo & Company decreased their target price on shares of 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. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Finally, Truist Financial lifted their price objective on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.76.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business’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 transaction, the chief executive officer now directly owns 319,813 shares in the company, valued at approximately $47,949,563.09. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 7,140 shares of company stock valued at $1,142,842. 1.30% of the stock is owned by insiders.

Mid-America Apartment Communities Stock Performance

MAA opened at $154.24 on Friday. The company has a market cap of $18.03 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 3.72 and a beta of 0.79. The firm’s fifty day simple moving average is $161.35 and its two-hundred day simple moving average is $157.11. 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 52-week low of $123.73 and a 52-week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping 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 analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s payout ratio is 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.