Sequoia Financial Advisors LLC Acquires Shares of 1,799 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sequoia Financial Advisors LLC bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,799 shares of the real estate investment trust’s stock, valued at approximately $242,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Mid-America Apartment Communities by 1.0% during the 1st quarter. BlackRock Inc. now owns 11,362,466 shares of the real estate investment trust’s stock valued at $1,716,187,000 after purchasing an additional 112,194 shares in the last quarter. FMR LLC increased its holdings 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. Norges Bank purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $543,026,000. JPMorgan Chase & Co. increased its holdings in shares of Mid-America Apartment Communities by 41.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock valued at $491,036,000 after purchasing an additional 956,154 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Mid-America Apartment Communities by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 2,635,202 shares of the real estate investment trust’s stock valued at $397,203,000 after purchasing an additional 60,949 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 2,807 shares of company stock valued at $353,955. 1.33% of the stock is currently owned by insiders.

Mid-America Apartment Communities Trading Up 1.2 %

Shares of MAA stock opened at $126.08 on Friday. The company’s 50-day moving average price is $128.92 and its 200-day moving average price is $128.63. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.80 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46.

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

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.66%. Mid-America Apartment Communities’s payout ratio is 124.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MAA shares. Truist Financial cut their target price on shares of 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 reissued a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Jefferies Financial Group reissued a “hold” rating and issued a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $149.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $143.18.

Mid-America Apartment Communities 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.