Exchange Traded Concepts LLC increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 80.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,752 shares of the real estate investment trust’s stock after purchasing an additional 23,113 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Mid-America Apartment Communities were worth $7,189,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC bought a new position in shares of Mid-America Apartment Communities in the second quarter valued at approximately $25,000. Tobam acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in Mid-America Apartment Communities during the 3rd quarter worth approximately $33,000. Sentry Investment Management LLC bought a new stake in Mid-America Apartment Communities during the 3rd quarter worth approximately $36,000. Finally, United Community Bank increased its holdings in Mid-America Apartment Communities by 1,000.0% during the 3rd quarter. United Community Bank now owns 297 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 270 shares in the last quarter. 93.60% of the stock is owned by institutional investors.
Mid-America Apartment Communities Stock Performance
MAA stock opened at $120.69 on Monday. 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 company has a 50 day moving average price of $131.56 and a 200 day moving average price of $133.70. Mid-America Apartment Communities, Inc. has a fifty-two week low of $120.30 and a fifty-two week high of $169.42. The stock has a market capitalization of $14.11 billion, a PE ratio of 31.93 and a beta of 0.79.
Mid-America Apartment Communities Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be issued a $1.53 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $6.12 annualized dividend and a yield of 5.1%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 161.90%.
Analysts Set New Price Targets
Several brokerages have issued reports on MAA. Evercore cut their price objective on Mid-America Apartment Communities from $144.00 to $143.00 and set an “in-line” rating for the company in a research report on Monday, December 15th. Morgan Stanley decreased their target price on Mid-America Apartment Communities from $164.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. UBS Group raised their target price on Mid-America Apartment Communities from $132.00 to $134.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Truist Financial cut their price target on Mid-America Apartment Communities from $146.00 to $142.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, KeyCorp reduced their price target on shares of Mid-America Apartment Communities from $170.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $150.05.
Get Our Latest Stock Report on Mid-America Apartment Communities
Insider Activity
In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 233 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $136.50, for a total transaction of $31,804.50. Following the completion of the sale, the executive vice president directly owned 3,799 shares of the company’s stock, valued at approximately $518,563.50. The trade was a 5.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert J. Delpriore sold 5,426 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $138.23, for a total transaction of $750,035.98. Following the transaction, the executive vice president owned 49,745 shares in the company, valued at approximately $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. In the last quarter, insiders sold 6,079 shares of company stock worth $838,698. 1.30% of the stock is owned by company 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.
Featured Stories
Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.
