Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 67.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,084 shares of the real estate investment trust’s stock after buying an additional 12,950 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Mid-America Apartment Communities were worth $3,918,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Physician Wealth Advisors Inc. raised its stake in 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 valued at $26,000 after acquiring an additional 75 shares during the period. Nalls Sherbakoff Group LLC bought a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $32,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth $33,000. Hurley Capital LLC raised its position in shares of Mid-America Apartment Communities by 70.4% in the 4th quarter. Hurley Capital LLC now owns 271 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 112 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Mid-America Apartment Communities by 3,100.0% in the 1st quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Trading Down 0.9%
Shares of Mid-America Apartment Communities stock opened at $140.85 on Tuesday. The company’s 50-day moving average price is $133.11 and its 200-day moving average price is $132.12. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.99. Mid-America Apartment Communities, Inc. has a 12-month low of $120.30 and a 12-month high of $153.93. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 42.68 and a beta of 0.74.
Mid-America Apartment Communities Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $1.53 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a yield of 4.3%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 185.45%.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Scotiabank increased their price objective on shares of Mid-America Apartment Communities from $120.00 to $129.00 and gave the company a “sector underperform” rating in a research note on Thursday, June 18th. Truist Financial upped their price objective on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Morgan Stanley lifted their target price on Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Citigroup reiterated a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Mid-America Apartment Communities in a report on Wednesday, June 24th. One equities 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $144.69.
Insider Transactions at Mid-America Apartment Communities
In other news, Director Tamara D. Fischer bought 1,100 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was purchased at an average price of $128.55 per share, with a total value of $141,405.00. Following the transaction, the director owned 1,100 shares of the company’s stock, valued at approximately $141,405. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.
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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