ABC Arbitrage SA acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 8,056 shares of the real estate investment trust’s stock, valued at approximately $1,126,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC purchased a new position in Mid-America Apartment Communities during the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at $26,000. Sentry Investment Management LLC acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth $36,000. United Community Bank raised its position in shares of Mid-America Apartment Communities by 1,000.0% in the 3rd quarter. United Community Bank now owns 297 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 270 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in Mid-America Apartment Communities in the second quarter valued at $45,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities Stock Performance
Shares of Mid-America Apartment Communities stock opened at $136.04 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.06 and a current ratio of 0.10. Mid-America Apartment Communities, Inc. has a 1 year low of $125.75 and a 1 year high of $173.38. The firm’s 50-day simple moving average is $135.12 and its 200-day simple moving average is $136.63. The firm has a market cap of $15.90 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79.
Mid-America Apartment Communities Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were paid a dividend of $1.53 per share. The ex-dividend date was Thursday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.52. This represents a $6.12 annualized dividend and a yield of 4.5%. Mid-America Apartment Communities’s payout ratio is presently 161.90%.
Analyst Ratings Changes
Several research analysts recently commented on MAA shares. Royal Bank Of Canada cut 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. UBS Group lifted their target price on shares of Mid-America Apartment Communities from $132.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Colliers Securities cut shares of Mid-America Apartment Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday. BMO Capital Markets raised Mid-America Apartment Communities from a “hold” rating to an “outperform” rating and raised their price objective for the company from $150.00 to $158.00 in a research report on Friday, January 9th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, December 5th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $153.84.
View Our Latest Stock Report on MAA
Insiders Place Their Bets
In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 233 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $136.50, for a total transaction of $31,804.50. Following the sale, the executive vice president directly owned 3,799 shares of the company’s stock, valued at approximately $518,563.50. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adrian Hill acquired 758 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were acquired at an average cost of $131.83 per share, with a total value of $99,927.14. Following the transaction, the executive vice president owned 48,766 shares in the company, valued at approximately $6,428,821.78. The trade was a 1.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 6,079 shares of company stock valued at $838,698. Company insiders own 1.20% of the company’s stock.
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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