Janney Montgomery Scott LLC Has $2.92 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Janney Montgomery Scott LLC increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 163.1% during the fourth quarter, Holdings Channel reports. The fund owned 21,734 shares of the real estate investment trust’s stock after acquiring an additional 13,474 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Mid-America Apartment Communities were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MAA. Massachusetts Financial Services Co. MA increased its position in shares of Mid-America Apartment Communities by 188.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock worth $195,179,000 after purchasing an additional 949,171 shares during the period. Blackstone Inc. increased its position in shares of Mid-America Apartment Communities by 51.8% during the third 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 period. FMR LLC boosted its position in shares of Mid-America Apartment Communities by 12.2% during the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after purchasing an additional 592,306 shares in the last quarter. Anchor Capital Advisors LLC lifted its position in shares of Mid-America Apartment Communities by 10,178.6% during the 4th quarter. Anchor Capital Advisors LLC now owns 349,575 shares of the real estate investment trust’s stock valued at $47,004,000 after acquiring an additional 346,174 shares during the period. Finally, Ceredex Value Advisors LLC bought a new position in shares of Mid-America Apartment Communities during the 4th quarter worth about $39,561,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Trading Up 0.2 %

NYSE:MAA opened at $133.20 on Friday. The company has a 50-day moving average price of $131.36 and a 200-day moving average price of $129.72. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.96 and a beta of 0.80. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. During the same quarter last year, the business earned $2.28 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.86 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date is Friday, July 12th. This represents a $5.88 annualized dividend and a yield of 4.41%. Mid-America Apartment Communities’s payout ratio is 123.27%.

Analyst Upgrades and Downgrades

MAA has been the subject of several recent research reports. Mizuho decreased their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada restated a “sector perform” rating and set a $136.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. The Goldman Sachs Group reissued a “buy” rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. UBS Group boosted their target price on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $144.18.

About Mid-America Apartment Communities

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.