Swiss Life Asset Management Ltd lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 466.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,424 shares of the real estate investment trust’s stock after purchasing an additional 37,405 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Mid-America Apartment Communities were worth $6,310,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Tobam acquired a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $26,000. Physician Wealth Advisors Inc. lifted its stake in shares of Mid-America Apartment Communities by 65.2% in the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 75 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of Mid-America Apartment Communities in the third quarter valued at approximately $33,000. Sentry Investment Management LLC bought a new position in shares of Mid-America Apartment Communities in the third quarter valued at approximately $36,000. Finally, United Community Bank increased its stake in shares of Mid-America Apartment Communities by 1,000.0% during the third quarter. United Community Bank now owns 297 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.
Mid-America Apartment Communities Trading Up 0.0%
Shares of NYSE:MAA opened at $129.26 on Thursday. 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 stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 39.17 and a beta of 0.77. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $163.63. The company has a 50 day moving average price of $126.78 and a 200 day moving average price of $131.38.
Mid-America Apartment Communities Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were given a dividend of $1.53 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.7%. Mid-America Apartment Communities’s payout ratio is 185.45%.
Insider Activity at Mid-America Apartment Communities
In related news, EVP Amber Fairbanks sold 711 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $124.73, for a total value of $88,683.03. Following the completion of the transaction, the executive vice president owned 4,471 shares in the company, valued at $557,667.83. This trade represents a 13.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Insiders sold 1,039 shares of company stock worth $129,594 over the last three months. Corporate insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
MAA has been the topic of several recent analyst reports. Cantor Fitzgerald dropped their target price on 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. Barclays lifted their price target on Mid-America Apartment Communities from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup dropped their price objective on Mid-America Apartment Communities from $148.00 to $143.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. KeyCorp cut their price objective on Mid-America Apartment Communities from $170.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, February 11th. Finally, Wells Fargo & Company decreased their target price on Mid-America Apartment Communities from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $147.78.
Read Our Latest Analysis on Mid-America Apartment Communities
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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