Dockside LLC acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,482 shares of the real estate investment trust’s stock, valued at approximately $2,012,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAA. Tobam acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $26,000. Physician Wealth Advisors Inc. increased its stake in Mid-America Apartment Communities by 65.2% in the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 75 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $33,000. Fulcrum Asset Management LLP acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $46,000. Finally, True Wealth Design LLC increased its stake in Mid-America Apartment Communities by 256.4% in the 4th quarter. True Wealth Design LLC now owns 335 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 241 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities Stock Up 0.5%
Mid-America Apartment Communities stock opened at $138.83 on Friday. The firm has a market capitalization of $16.16 billion, a PE ratio of 42.07 and a beta of 0.76. The company’s 50-day moving average is $129.38 and its 200-day moving average is $131.71. Mid-America Apartment Communities, Inc. has a fifty-two week low of $120.30 and a fifty-two week high of $153.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.13 and a quick ratio of 0.13.
Mid-America Apartment Communities Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a dividend of $1.53 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.4%. Mid-America Apartment Communities’s payout ratio is presently 185.45%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on MAA. Morgan Stanley lowered their price target on shares of Mid-America Apartment Communities from $164.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Truist Financial lifted their price target on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday. Scotiabank reiterated a “sector underperform” rating and issued a $120.00 price target (down from $138.00) on shares of Mid-America Apartment Communities in a research note on Thursday, May 14th. Mizuho lifted their price target on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Mid-America Apartment Communities from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $144.19.
Get Our Latest Stock Report on MAA
Insider Activity
In related news, Director Tamara D. Fischer bought 1,100 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average price of $128.55 per share, with a total value of $141,405.00. Following the acquisition, the director owned 1,100 shares of the company’s stock, valued at approximately $141,405. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amber Fairbanks sold 711 shares of Mid-America Apartment Communities stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $124.73, for a total transaction of $88,683.03. Following the sale, the executive vice president directly owned 4,471 shares of the company’s stock, valued at $557,667.83. The trade was a 13.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,039 shares of company stock valued at $129,594 in the last ninety days. 0.60% of the stock is currently owned by insiders.
Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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