Livforsakringsbolaget Skandia Omsesidigt Purchases 621 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 207.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 921 shares of the real estate investment trust’s stock after buying an additional 621 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Mid-America Apartment Communities were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MAA. Norges Bank purchased a new position in shares of Mid-America Apartment Communities during the fourth quarter worth about $543,026,000. JPMorgan Chase & Co. lifted its position in Mid-America Apartment Communities by 41.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock worth $491,036,000 after buying an additional 956,154 shares during the last quarter. Morgan Stanley lifted its position in Mid-America Apartment Communities by 63.3% in the 4th quarter. Morgan Stanley now owns 2,208,337 shares of the real estate investment trust’s stock worth $346,687,000 after buying an additional 856,331 shares during the last quarter. Blackstone Inc. lifted its position in Mid-America Apartment Communities by 51.8% in the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after buying an additional 697,200 shares during the last quarter. Finally, FMR LLC lifted its position in Mid-America Apartment Communities by 12.2% in the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after buying an additional 592,306 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Down 0.1 %

Mid-America Apartment Communities stock opened at $124.62 on Friday. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. The business’s fifty day moving average is $128.88 and its 200 day moving average is $128.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $14.55 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.80 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. During the same period in the prior year, the company posted $2.32 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is 124.84%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 2,807 shares of company stock valued at $353,955. 1.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MAA shares. Deutsche Bank Aktiengesellschaft initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective for the company. Mizuho decreased their target price on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Truist Financial decreased their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Finally, Morgan Stanley upped their price target on Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $143.18.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.