Barclays PLC increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 56.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 331,632 shares of the real estate investment trust’s stock after purchasing an additional 119,514 shares during the period. Barclays PLC owned 0.28% of Mid-America Apartment Communities worth $46,339,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Appleton Partners Inc. MA bought a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $915,000. Norges Bank bought a new position in Mid-America Apartment Communities in the 2nd quarter worth about $795,893,000. Algebris UK Ltd. bought a new position in Mid-America Apartment Communities in the 3rd quarter worth about $14,461,000. Allworth Financial LP increased its stake in shares of Mid-America Apartment Communities by 33.1% in the second quarter. Allworth Financial LP now owns 30,112 shares of the real estate investment trust’s stock valued at $4,457,000 after purchasing an additional 7,481 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Mid-America Apartment Communities by 85.5% in the third quarter. Exchange Traded Concepts LLC now owns 28,639 shares of the real estate investment trust’s stock valued at $4,002,000 after purchasing an additional 13,198 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.
Mid-America Apartment Communities Trading Down 0.5%
Mid-America Apartment Communities stock opened at $132.15 on Tuesday. The firm has a 50 day simple moving average of $135.00 and a 200-day simple moving average of $135.58. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market capitalization of $15.45 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 2.21 and a beta of 0.79. Mid-America Apartment Communities, Inc. has a 12-month low of $125.75 and a 12-month high of $171.56.
Mid-America Apartment Communities Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 15th were issued a dividend of $1.53 per share. The ex-dividend date of this dividend was Thursday, January 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.52. This represents a $6.12 dividend on an annualized basis and a yield of 4.6%. Mid-America Apartment Communities’s dividend payout ratio is presently 161.90%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on MAA shares. Cantor Fitzgerald boosted their price objective on Mid-America Apartment Communities from $137.00 to $141.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Scotiabank lowered their target price on Mid-America Apartment Communities from $142.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 4th. Royal Bank Of Canada cut their target price on Mid-America Apartment Communities from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Friday, February 6th. Colliers Securities lowered Mid-America Apartment Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, KeyCorp decreased their price target on Mid-America Apartment Communities from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $150.79.
Insiders Place Their Bets
In other Mid-America Apartment Communities news, EVP Adrian Hill acquired 758 shares of the stock in a transaction dated Friday, December 12th. The shares were bought at an average price of $131.83 per share, with a total value of $99,927.14. Following the purchase, the executive vice president directly owned 48,766 shares of the company’s stock, valued at approximately $6,428,821.78. This trade represents a 1.58% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert J. Delpriore sold 5,426 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $138.23, for a total transaction of $750,035.98. Following the completion of the sale, the executive vice president owned 49,745 shares in the company, valued at $6,876,251.35. The trade was a 9.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,079 shares of company stock worth $838,698. 1.30% of the stock is owned by corporate 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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