Y Intercept Hong Kong Ltd bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,011 shares of the real estate investment trust’s stock, valued at approximately $1,467,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. lifted its holdings in shares of Mid-America Apartment Communities by 65.2% during the fourth quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Nalls Sherbakoff Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth $32,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the third quarter worth $33,000. Root Financial Partners LLC increased its position in Mid-America Apartment Communities by 3,100.0% during the first quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 279 shares during the period. Finally, Hurley Capital LLC raised its stake in Mid-America Apartment Communities by 70.4% during the 4th quarter. Hurley Capital LLC now owns 271 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.
Mid-America Apartment Communities Stock Performance
MAA stock traded down $0.85 during midday trading on Friday, hitting $135.15. The stock had a trading volume of 1,391,165 shares, compared to its average volume of 928,336. Mid-America Apartment Communities, Inc. has a 52 week low of $120.30 and a 52 week high of $153.93. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.99. The stock has a 50-day simple moving average of $133.90 and a 200 day simple moving average of $132.20. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 40.96 and a beta of 0.74.
Mid-America Apartment Communities Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a dividend of $1.53 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a yield of 4.5%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 185.45%.
Analysts Set New Price Targets
MAA has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 24th. Scotiabank boosted their price objective on shares of Mid-America Apartment Communities from $129.00 to $137.00 and gave the stock a “sector underperform” rating in a report on Thursday. Wells Fargo & Company cut their price objective on shares of Mid-America Apartment Communities from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. Cantor Fitzgerald reduced their target price on shares of Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Finally, Morgan Stanley lifted their target price on Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $143.87.
Get Our Latest Research Report on Mid-America Apartment Communities
Insider Buying and Selling
In related news, Director Tamara D. Fischer acquired 1,100 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $128.55 per share, with a total value of $141,405.00. Following the completion of the acquisition, the director owned 1,100 shares of the company’s stock, valued at $141,405. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently 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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