Brown Advisory Inc. Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Brown Advisory Inc. purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the first quarter, according to its most recent filing with the SEC. The firm purchased 1,335 shares of the real estate investment trust’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alhambra Investment Management LLC increased its holdings in shares of Mid-America Apartment Communities by 3.1% in the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 66 shares during the period. Huntington National Bank boosted its position in shares of Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 70 shares in the last quarter. Sandy Spring Bank boosted its position in shares of Mid-America Apartment Communities by 25.2% in the 4th quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 90 shares in the last quarter. GF Fund Management CO. LTD. boosted its position in shares of Mid-America Apartment Communities by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,214 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 90 shares in the last quarter. Finally, Naviter Wealth LLC boosted its position in shares of Mid-America Apartment Communities by 1.1% in the 1st quarter. Naviter Wealth LLC now owns 8,567 shares of the real estate investment trust’s stock worth $1,421,000 after purchasing an additional 93 shares in the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial lowered their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. Barclays raised their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Mizuho lowered their price target on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Robert W. Baird lifted their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Finally, UBS Group cut their price objective on Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus target price of $168.81.

Insider Activity

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the transaction, the executive vice president owned 3,012 shares of the company’s stock, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Mid-America Apartment Communities Stock Up 2.0%

NYSE:MAA opened at $150.37 on Thursday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average is $152.76 and its two-hundred day moving average is $156.25. Mid-America Apartment Communities, Inc. has a 52 week low of $138.89 and a 52 week high of $173.38. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 3.78 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The business had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same quarter in the prior year, the company earned $2.22 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 126.25%.

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.