Capital International Inc. CA Buys 28,889 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Capital International Inc. CA grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 98.3% in the 4th quarter, Holdings Channel reports. The firm owned 58,278 shares of the real estate investment trust’s stock after acquiring an additional 28,889 shares during the quarter. Capital International Inc. CA’s holdings in Mid-America Apartment Communities were worth $9,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors increased its position in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after buying an additional 2,088,143 shares during the period. Dimensional Fund Advisors LP grew its holdings in Mid-America Apartment Communities by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,725,605 shares of the real estate investment trust’s stock worth $266,723,000 after acquiring an additional 24,407 shares during the period. First Trust Advisors LP raised its position in shares of Mid-America Apartment Communities by 0.3% in the 4th quarter. First Trust Advisors LP now owns 68,617 shares of the real estate investment trust’s stock worth $10,606,000 after acquiring an additional 178 shares in the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Mid-America Apartment Communities by 7.7% in the 4th quarter. Freedom Investment Management Inc. now owns 3,395 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 244 shares during the period. Finally, GeoWealth Management LLC boosted its position in shares of Mid-America Apartment Communities by 9.6% during the 4th quarter. GeoWealth Management LLC now owns 4,349 shares of the real estate investment trust’s stock valued at $672,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MAA. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $173.00 to $182.00 in a report on Friday, February 14th. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $159.50 to $168.00 in a research report on Friday, January 24th. Barclays reduced their price target on shares of Mid-America Apartment Communities from $163.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Truist Financial lifted their price target on shares of 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. Finally, BMO Capital Markets cut their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Moderate Buy” and an average target price of $168.76.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $156.98 on Friday. The company has a fifty day moving average price of $161.23 and a 200-day moving average price of $157.05. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 3.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. Mid-America Apartment Communities, Inc. has a 1 year low of $125.55 and a 1 year 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, topping 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, equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.86%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 135.27%.

Insiders Place Their Bets

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 value of $396,264.99. Following the transaction, the chief executive officer now directly owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. The trade was a 0.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 7,140 shares of company stock valued at $1,142,842. Insiders own 1.30% of the company’s stock.

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.