Havemeyer Place LP bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 4,228 shares of the real estate investment trust’s stock, valued at approximately $587,000.
Several other large investors have also recently made changes to their positions in MAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Mid-America Apartment Communities by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,821 shares of the real estate investment trust’s stock valued at $2,149,000 after purchasing an additional 620 shares during the period. EverSource Wealth Advisors LLC raised its position in Mid-America Apartment Communities by 47.6% during the second quarter. EverSource Wealth Advisors LLC now owns 927 shares of the real estate investment trust’s stock worth $137,000 after acquiring an additional 299 shares during the period. Baird Financial Group Inc. raised its position in Mid-America Apartment Communities by 7.1% during the second quarter. Baird Financial Group Inc. now owns 6,595 shares of the real estate investment trust’s stock worth $976,000 after acquiring an additional 437 shares during the period. Walleye Capital LLC acquired a new position in Mid-America Apartment Communities during the second quarter worth $230,000. Finally, Bank of Nova Scotia raised its position in Mid-America Apartment Communities by 21.7% during the second quarter. Bank of Nova Scotia now owns 15,538 shares of the real estate investment trust’s stock worth $2,300,000 after acquiring an additional 2,771 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities Price Performance
Mid-America Apartment Communities stock opened at $137.09 on Tuesday. Mid-America Apartment Communities, Inc. has a 52-week low of $120.30 and a 52-week high of $153.93. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 41.54 and a beta of 0.76. The company has a fifty day simple moving average of $128.01 and a 200-day simple moving average of $131.50. 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued 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 dividend yield of 4.5%. Mid-America Apartment Communities’s dividend payout ratio is presently 185.45%.
Insiders Place Their Bets
In other news, EVP Amber Fairbanks sold 711 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $124.73, for a total transaction of $88,683.03. Following the completion of the sale, the executive vice president owned 4,471 shares of the company’s stock, valued at $557,667.83. This represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Tamara D. Fischer acquired 1,100 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $128.55 per share, with a total value of $141,405.00. Following the acquisition, the director directly owned 1,100 shares of the company’s stock, valued at $141,405. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 1,039 shares of company stock valued at $129,594 in the last ninety days. Insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
MAA has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a “strong sell” rating to a “sell” rating in a research report on Sunday, April 12th. UBS Group reduced their price objective on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. KeyCorp reduced their price objective on shares of Mid-America Apartment Communities from $170.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Cantor Fitzgerald reduced their price objective on shares of Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, BTIG Research reduced their price objective on shares of Mid-America Apartment Communities from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $143.44.
View Our Latest Analysis on MAA
Mid-America Apartment Communities 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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