Diamond Hill Capital Management LLC Investment Advisor Invests $36.52 Million in Mid-America Apartment Communities, Inc. $MAA

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 262,830 shares of the real estate investment trust’s stock, valued at approximately $36,518,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. lifted its holdings in Mid-America Apartment Communities by 65.2% during the 4th 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. Values First Advisors Inc. raised its position in shares of Mid-America Apartment Communities by 0.5% during the 1st quarter. Values First Advisors Inc. now owns 15,472 shares of the real estate investment trust’s stock valued at $1,889,000 after acquiring an additional 82 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in Mid-America Apartment Communities by 1.9% during the fourth 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 during the last quarter. Larson Financial Group LLC lifted its stake in Mid-America Apartment Communities by 1.5% during the fourth 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 during the last quarter. Finally, World Investment Advisors boosted its holdings in Mid-America Apartment Communities by 5.3% in the first quarter. World Investment Advisors now owns 2,174 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tamara D. Fischer acquired 1,100 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the transaction, the director directly owned 1,100 shares in the company, valued at $141,405. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MAA shares. Scotiabank dropped their target price on shares of Mid-America Apartment Communities from $137.00 to $134.00 and set a “sector underperform” rating on the stock in a report on Tuesday, August 4th. BNP Paribas Exane raised shares of Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. initiated coverage on shares of Mid-America Apartment Communities in a research report on Thursday, July 16th. They set a “neutral” rating and a $147.00 price objective for the company. Piper Sandler dropped their price objective on shares of Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Finally, Morgan Stanley cut their target price on shares of Mid-America Apartment Communities from $155.00 to $147.00 and set an “overweight” rating on the stock in a report on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $144.88.

View Our Latest Stock Analysis on Mid-America Apartment Communities

Mid-America Apartment Communities Stock Performance

MAA stock opened at $133.47 on Monday. Mid-America Apartment Communities, Inc. has a 1 year low of $120.30 and a 1 year high of $146.41. The stock has a market capitalization of $15.49 billion, a price-to-earnings ratio of 39.03 and a beta of 0.73. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. The stock’s fifty day moving average is $135.59 and its two-hundred day moving average is $131.60.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were issued a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a dividend 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 178.95%.

Mid-America Apartment Communities Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report).

Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.