Bank of America Corp DE Purchases 4,725 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of America Corp DE increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 622,836 shares of the real estate investment trust’s stock after buying an additional 4,725 shares during the period. Bank of America Corp DE owned 0.53% of Mid-America Apartment Communities worth $96,272,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. IFP Advisors Inc boosted its holdings in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 68 shares during the period. Headlands Technologies LLC bought a new position in Mid-America Apartment Communities in the 4th quarter worth approximately $46,000. UMB Bank n.a. increased its position in Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 75 shares during the period. Catalyst Capital Advisors LLC increased its position in Mid-America Apartment Communities by 57.8% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 133 shares during the period. Finally, Sandy Spring Bank increased its position in Mid-America Apartment Communities by 25.2% in the 4th quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 90 shares during the period. 93.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MAA has been the subject of several research analyst reports. Raymond James upped their target price on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a “strong-buy” rating in a research note on Thursday, March 20th. Evercore ISI upped their target price on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Robert W. Baird upped their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Truist Financial upped their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $159.50 to $168.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Moderate Buy” and an average target price of $169.00.

Mid-America Apartment Communities Stock Up 0.8%

MAA opened at $162.96 on Monday. The firm’s 50-day simple moving average is $161.03 and its 200-day simple moving average is $157.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities, Inc. has a twelve month low of $126.77 and a twelve month high of $176.02. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 3.72 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The business had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same quarter in the prior year, the firm earned $2.22 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 126.25%.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total transaction of $724,473.92. Following the sale, the chief executive officer now owns 324,171 shares of the company’s stock, valued at $53,890,187.04. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This trade represents a 5.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock valued at $1,171,707 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.