Quantinno Capital Management LP Increases Position in Mid-America Apartment Communities, Inc. $MAA

Quantinno Capital Management LP increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 68.4% during the 1st quarter, Holdings Channel reports. The firm owned 503,350 shares of the real estate investment trust’s stock after acquiring an additional 204,411 shares during the period. Quantinno Capital Management LP’s holdings in Mid-America Apartment Communities were worth $61,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Mid-America Apartment Communities in the 4th quarter worth $750,603,000. Viking Global Investors LP bought a new stake in Mid-America Apartment Communities during the third quarter valued at about $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Mid-America Apartment Communities by 621.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock valued at $168,805,000 after acquiring an additional 1,040,525 shares during the period. Millennium Management LLC lifted its position in shares of Mid-America Apartment Communities by 3,129.2% in the fourth quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock valued at $102,525,000 after acquiring an additional 715,209 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Mid-America Apartment Communities by 30.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,030,848 shares of the real estate investment trust’s stock valued at $282,105,000 after acquiring an additional 474,989 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Tamara D. Fischer acquired 1,100 shares of Mid-America Apartment Communities stock in a transaction on Thursday, May 21st. The shares were acquired at an average price of $128.55 per share, with a total value of $141,405.00. Following the purchase, the director directly owned 1,100 shares in the company, valued at $141,405. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 1.6%

MAA opened at $135.61 on Wednesday. The firm has a 50-day simple moving average of $135.01 and a two-hundred day simple moving average of $131.79. Mid-America Apartment Communities, Inc. has a 52 week low of $120.30 and a 52 week high of $152.35. The company has a market capitalization of $15.78 billion, a PE ratio of 41.09 and a beta of 0.74. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.99.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $1.30. Mid-America Apartment Communities had a return on equity of 6.61% and a net margin of 17.60%.The firm had revenue of $553.73 million during the quarter, compared to analyst estimates of $555.75 million. During the same quarter last year, the business posted $2.20 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $1.53 per share. The ex-dividend date of this dividend 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 is presently 185.45%.

Wall Street Analyst Weigh In

MAA has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on Mid-America Apartment Communities from $140.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Scotiabank boosted their price target on Mid-America Apartment Communities from $129.00 to $137.00 and gave the stock a “sector underperform” rating in a report on Thursday, July 9th. Piper Sandler boosted their price target on Mid-America Apartment Communities from $140.00 to $143.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $145.25.

About Mid-America Apartment Communities

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.