Columbus Macro LLC raised its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 30.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 74,404 shares of the real estate investment trust’s stock after acquiring an additional 17,542 shares during the quarter. Mid-America Apartment Communities makes up 1.1% of Columbus Macro LLC’s investment portfolio, making the stock its 23rd largest position. Columbus Macro LLC’s holdings in Mid-America Apartment Communities were worth $10,335,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of MAA. Exchange Traded Concepts LLC raised its position in shares of Mid-America Apartment Communities by 80.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 51,752 shares of the real estate investment trust’s stock worth $7,189,000 after purchasing an additional 23,113 shares during the last quarter. Czech National Bank lifted its stake in Mid-America Apartment Communities by 3.8% in the 4th quarter. Czech National Bank now owns 30,870 shares of the real estate investment trust’s stock valued at $4,288,000 after buying an additional 1,136 shares in the last quarter. Canvas Wealth Advisors LLC boosted its holdings in Mid-America Apartment Communities by 84.6% in the 4th quarter. Canvas Wealth Advisors LLC now owns 3,937 shares of the real estate investment trust’s stock worth $547,000 after buying an additional 1,804 shares during the last quarter. Pensionfund Sabic acquired a new stake in Mid-America Apartment Communities in the 4th quarter worth about $1,021,000. Finally, E. Ohman J or Asset Management AB purchased a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $555,000. Institutional investors and hedge funds own 93.60% of the company’s stock.
Mid-America Apartment Communities Stock Up 0.1%
MAA stock opened at $120.69 on Monday. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 31.93 and a beta of 0.79. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.93. Mid-America Apartment Communities, Inc. has a 12 month low of $120.30 and a 12 month high of $169.42. The firm has a 50-day moving average of $131.56 and a two-hundred day moving average of $133.70.
Mid-America Apartment Communities Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors 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 5.1%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 161.90%.
Insiders Place Their Bets
In other Mid-America Apartment Communities news, EVP Robert J. Delpriore sold 5,426 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $138.23, for a total value of $750,035.98. Following the completion of the sale, the executive vice president directly owned 49,745 shares of the company’s stock, valued at $6,876,251.35. This trade represents a 9.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amber Fairbanks sold 233 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $136.50, for a total value of $31,804.50. Following the transaction, the executive vice president owned 3,799 shares in the company, valued at approximately $518,563.50. This represents a 5.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,079 shares of company stock worth $838,698 in the last three months. 1.30% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
MAA has been the subject of a number of research analyst reports. Citigroup reduced their target price on Mid-America Apartment Communities from $155.00 to $148.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Barclays dropped their price target on Mid-America Apartment Communities from $144.00 to $138.00 and set an “equal weight” rating for the company in a research report on Friday, March 6th. Colliers Securities downgraded Mid-America Apartment Communities from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 9th. Cantor Fitzgerald raised their price objective on 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, Scotiabank lowered their target price on shares of Mid-America Apartment Communities from $140.00 to $138.00 and set a “sector perform” rating on the stock in a research note on Monday, March 23rd. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $150.05.
Read Our Latest Stock Analysis on Mid-America Apartment Communities
Mid-America Apartment Communities Company 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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