Nisa Investment Advisors LLC decreased its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,815 shares of the real estate investment trust’s stock after selling 8,103 shares during the period. Nisa Investment Advisors LLC’s holdings in Mid-America Apartment Communities were worth $11,365,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Viking Global Investors LP purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Mid-America Apartment Communities by 621.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock worth $168,805,000 after purchasing an additional 1,040,525 shares during the period. Daiwa Securities Group Inc. grew its holdings in Mid-America Apartment Communities by 461.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 721,418 shares of the real estate investment trust’s stock valued at $106,777,000 after buying an additional 593,020 shares in the last quarter. Invesco Ltd. raised its position in shares of Mid-America Apartment Communities by 30.6% during the second quarter. Invesco Ltd. now owns 1,835,408 shares of the real estate investment trust’s stock valued at $271,659,000 after buying an additional 430,398 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $54,314,000. Institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Trading Up 0.3%
Shares of MAA stock opened at $122.53 on Thursday. The company has a market cap of $14.32 billion, a PE ratio of 32.42 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 1 year low of $120.30 and a 1 year high of $169.00. The stock’s 50 day simple moving average is $130.74 and its two-hundred day simple moving average is $133.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.10 and a quick ratio of 0.10.
Mid-America Apartment Communities Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be given a dividend of $1.53 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.12 dividend on an annualized basis and a yield of 5.0%. Mid-America Apartment Communities’s payout ratio is 161.90%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on MAA shares. Mizuho upped their target price on shares of Mid-America Apartment Communities from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Royal Bank Of Canada reduced their price target on shares of Mid-America Apartment Communities from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Friday, February 6th. KeyCorp decreased their price target on shares of Mid-America Apartment Communities from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Cantor Fitzgerald increased their price objective on shares of Mid-America Apartment Communities from $137.00 to $141.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Morgan Stanley cut their price objective on Mid-America Apartment Communities from $164.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $149.74.
View Our Latest Research Report on Mid-America Apartment Communities
Insider Buying and Selling at Mid-America Apartment Communities
In related news, EVP Robert J. Delpriore sold 5,426 shares of Mid-America Apartment Communities stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $138.23, for a total transaction of $750,035.98. Following the completion of the transaction, the executive vice president directly owned 49,745 shares of the company’s stock, valued at approximately $6,876,251.35. The trade was a 9.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amber Fairbanks sold 233 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $136.50, for a total transaction of $31,804.50. Following the transaction, the executive vice president owned 3,799 shares in the company, valued at $518,563.50. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,079 shares of company stock worth $838,698. Insiders own 1.20% of the company’s stock.
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.
Further Reading
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