Louisiana State Employees Retirement System bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,000 shares of the real estate investment trust’s stock, valued at approximately $733,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Mid-America Apartment Communities by 5.1% in the first 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 grew its holdings in shares of 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 buying an additional 299 shares during the last quarter. Baird Financial Group Inc. increased its position in Mid-America Apartment Communities by 7.1% in the 2nd quarter. Baird Financial Group Inc. now owns 6,595 shares of the real estate investment trust’s stock valued at $976,000 after acquiring an additional 437 shares during the period. Walleye Capital LLC acquired a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $230,000. Finally, Bank of Nova Scotia increased its position in Mid-America Apartment Communities by 21.7% in the 2nd quarter. Bank of Nova Scotia now owns 15,538 shares of the real estate investment trust’s stock valued at $2,300,000 after acquiring an additional 2,771 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Price Performance
MAA traded up $2.48 on Tuesday, hitting $143.25. 16,603 shares of the company were exchanged, compared to its average volume of 977,373. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.13 and a current ratio of 0.13. The business’s fifty day moving average is $133.11 and its 200 day moving average is $132.12. Mid-America Apartment Communities, Inc. has a fifty-two week low of $120.30 and a fifty-two week high of $153.93. The firm has a market capitalization of $16.67 billion, a P/E ratio of 43.34 and a beta of 0.74.
Mid-America Apartment Communities Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a $1.53 dividend. This represents a $6.12 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 185.45%.
Analysts Set New Price Targets
A number of research firms have weighed in on MAA. Jefferies Financial Group raised Mid-America Apartment Communities to a “strong-buy” rating in a research report on Friday, June 26th. Mizuho upped their price target on Mid-America Apartment Communities from $148.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Cantor Fitzgerald lowered their target price on shares of Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $144.69.
Get Our Latest Report on Mid-America Apartment Communities
Insider Activity
In related news, Director Tamara D. Fischer acquired 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average price of $128.55 per share, with a total value of $141,405.00. Following the completion of the purchase, the director directly owned 1,100 shares in the company, valued at approximately $141,405. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.
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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