Nomura Asset Management Co. Ltd. Purchases 2,616 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Nomura Asset Management Co. Ltd. grew its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,073 shares of the real estate investment trust’s stock after acquiring an additional 2,616 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Mid-America Apartment Communities were worth $21,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MAA. First United Bank & Trust purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter worth $27,000. CVA Family Office LLC purchased a new position in Mid-America Apartment Communities in the fourth quarter worth about $40,000. First Financial Corp IN increased its stake in Mid-America Apartment Communities by 40.8% during the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 86 shares during the last quarter. Emfo LLC purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Mid-America Apartment Communities by 53.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 378 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 132 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MAA shares. Scotiabank lifted their target price on Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Wedbush raised shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $135.00 to $154.00 in a research note on Monday, May 6th. Mizuho reduced their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. UBS Group raised their target price on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a “sell” rating in a report on Tuesday, May 14th. Finally, Piper Sandler reiterated a “neutral” rating and set a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $144.18.

Mid-America Apartment Communities Trading Up 0.2 %

Shares of NYSE MAA traded up $0.28 during trading hours on Friday, reaching $133.20. The stock had a trading volume of 351,078 shares, compared to its average volume of 695,330. The business’s fifty day moving average price is $131.36 and its two-hundred day moving average price is $129.79. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.97 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.01). The firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. Mid-America Apartment Communities’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.28 earnings per share. Analysts expect that Mid-America Apartment Communities, Inc. will post 8.86 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Friday, July 12th. Mid-America Apartment Communities’s payout ratio is 123.27%.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 2,807 shares of company stock valued at $353,955. Company insiders own 1.30% of the company’s stock.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.