Hsbc Holdings PLC boosted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 8.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 430,624 shares of the real estate investment trust’s stock after purchasing an additional 33,307 shares during the quarter. Hsbc Holdings PLC’s holdings in Mid-America Apartment Communities were worth $59,848,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth $750,603,000. Viking Global Investors LP bought a new position in Mid-America Apartment Communities in the third quarter valued at $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $168,805,000 after buying an additional 1,040,525 shares during the last quarter. Millennium Management LLC increased its stake in Mid-America Apartment Communities by 3,129.2% in the 4th quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock valued at $102,525,000 after buying an additional 715,209 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Mid-America Apartment Communities by 30.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,030,848 shares of the real estate investment trust’s stock worth $282,105,000 after buying an additional 474,989 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Stock Performance
Shares of MAA stock opened at $142.10 on Monday. The company has a fifty day moving average price of $132.82 and a two-hundred day moving average price of $132.07. Mid-America Apartment Communities, Inc. has a one year low of $120.30 and a one year high of $153.93. The stock has a market cap of $16.54 billion, a P/E ratio of 43.06 and a beta of 0.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.13 and a quick ratio of 0.13.
Mid-America Apartment Communities Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.53 per share. This represents a $6.12 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, July 15th. Mid-America Apartment Communities’s payout ratio is 185.45%.
Analyst Ratings Changes
A number of equities analysts have recently commented on MAA shares. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lowered their target price on Mid-America Apartment Communities from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Mizuho increased their price target on Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Cantor Fitzgerald reduced their price target on Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Finally, Morgan Stanley raised their price target on Mid-America Apartment Communities from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $144.69.
Read Our Latest Analysis on Mid-America Apartment Communities
Insider Transactions at Mid-America Apartment Communities
In other Mid-America Apartment Communities news, Director Tamara D. Fischer acquired 1,100 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the purchase, the director directly owned 1,100 shares of the company’s stock, valued at approximately $141,405. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.
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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