Stableford Capital II LLC acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) during the 2nd quarter, Holdings Channel reports. The firm acquired 6,804 shares of the real estate investment trust’s stock, valued at approximately $945,000.
Several other large investors have also recently added to or reduced their stakes in the company. 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 in the last quarter. Values First Advisors Inc. increased its position in Mid-America Apartment Communities by 0.5% during the first quarter. Values First Advisors Inc. now owns 15,472 shares of the real estate investment trust’s stock worth $1,889,000 after acquiring an additional 82 shares during the period. Blue Trust Inc. increased its position in Mid-America Apartment Communities by 9.6% during the fourth quarter. Blue Trust Inc. now owns 1,041 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 91 shares during the period. New Mexico Educational Retirement Board raised its stake in Mid-America Apartment Communities by 1.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 5,400 shares of the real estate investment trust’s stock worth $750,000 after purchasing an additional 100 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Mid-America Apartment Communities by 1.5% in the 4th quarter. Larson Financial Group LLC now owns 7,008 shares of the real estate investment trust’s stock worth $974,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on MAA shares. Weiss Ratings upgraded shares of Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Morgan Stanley lifted their price target on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Citigroup reiterated a “market outperform” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, June 10th. Wall Street Zen cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Piper Sandler reduced their price target on Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus price target of $145.56.
Mid-America Apartment Communities Stock Up 0.9%
MAA stock opened at $133.59 on Tuesday. Mid-America Apartment Communities, Inc. has a 52 week low of $120.30 and a 52 week high of $146.41. The business has a 50-day simple moving average of $135.30 and a 200 day simple moving average of $131.75. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.02. The company has a market cap of $15.55 billion, a PE ratio of 39.06 and a beta of 0.73.
Mid-America Apartment Communities Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a $1.53 dividend. This represents a $6.12 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Wednesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 178.95%.
Insider Activity at Mid-America Apartment Communities
In other news, Director Tamara D. Fischer bought 1,100 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the transaction, the director owned 1,100 shares of the company’s stock, valued at $141,405. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.
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.
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