Wall Street Zen upgraded shares of Mid-America Apartment Communities (NYSE:MAA – Free Report) from a sell rating to a hold rating in a research report report published on Saturday.
A number of other research analysts also recently weighed in on MAA. Jefferies Financial Group raised Mid-America Apartment Communities to a “hold” rating in a report on Wednesday, July 22nd. Piper Sandler cut their price target on Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Scotiabank reduced their price target on shares of Mid-America Apartment Communities from $137.00 to $134.00 and set a “sector underperform” rating for the company in a research report on Tuesday, August 4th. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald raised their price objective on shares of Mid-America Apartment Communities from $132.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $145.38.
Check Out Our Latest Stock Report on Mid-America Apartment Communities
Mid-America Apartment Communities Stock Performance
Mid-America Apartment Communities Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a dividend of $1.53 per share. 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 payout ratio is currently 178.95%.
Insider Buying and Selling
In related news, Director Tamara D. Fischer purchased 1,100 shares of Mid-America Apartment Communities stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the transaction, the director directly owned 1,100 shares in the company, valued at $141,405. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Mid-America Apartment Communities during the second quarter valued at approximately $1,820,661,000. Norges Bank bought a new position in shares of Mid-America Apartment Communities in the fourth quarter worth approximately $750,603,000. Viking Global Investors LP purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Mid-America Apartment Communities by 621.0% in 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 worth $168,805,000 after purchasing an additional 1,040,525 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Mid-America Apartment Communities by 3,129.2% during the 4th quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock valued at $102,525,000 after purchasing an additional 715,209 shares during the period. 93.60% of the stock is currently owned by institutional investors.
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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