Daiwa Securities Group Inc. trimmed its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 65.5% during the fourth quarter, Holdings Channel reports. The firm owned 64,583 shares of the real estate investment trust’s stock after selling 122,764 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Mid-America Apartment Communities were worth $8,971,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its stake in Mid-America Apartment Communities by 0.8% during the fourth quarter. TD Asset Management Inc now owns 52,188 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 389 shares in the last quarter. Lido Advisors LLC lifted its stake in Mid-America Apartment Communities by 11.4% during the fourth quarter. Lido Advisors LLC now owns 2,413 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 247 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Mid-America Apartment Communities during the fourth quarter worth $620,000. Anchor Capital Advisors LLC lifted its stake in Mid-America Apartment Communities by 1.1% during the fourth quarter. Anchor Capital Advisors LLC now owns 392,916 shares of the real estate investment trust’s stock worth $54,580,000 after purchasing an additional 4,467 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Mid-America Apartment Communities by 12.9% during the fourth quarter. CIBC Asset Management Inc now owns 98,111 shares of the real estate investment trust’s stock worth $13,629,000 after purchasing an additional 11,244 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities Stock Performance
Shares of MAA stock opened at $137.65 on Monday. The stock’s 50-day moving average is $127.71 and its two-hundred day moving average is $131.45. The firm has a market cap of $16.02 billion, a price-to-earnings ratio of 41.71 and a beta of 0.76. Mid-America Apartment Communities, Inc. has a 1 year low of $120.30 and a 1 year high of $153.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.13 and a current ratio of 0.13.
Mid-America Apartment Communities Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a dividend of $1.53 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.4%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 185.45%.
Insider Activity
In other news, Director Tamara D. Fischer acquired 1,100 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were bought at an average price of $128.55 per share, with a total value of $141,405.00. Following the completion of the acquisition, the director owned 1,100 shares in the company, valued at $141,405. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amber Fairbanks sold 711 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $124.73, for a total value of $88,683.03. Following the transaction, the executive vice president directly owned 4,471 shares in the company, valued at approximately $557,667.83. The trade was a 13.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 1,039 shares of company stock worth $129,594. Corporate insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. BTIG Research cut their price objective on Mid-America Apartment Communities from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Cantor Fitzgerald cut their price objective on Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mid-America Apartment Communities in a research report on Friday, March 27th. Colliers Securities lowered Mid-America Apartment Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Citigroup cut their price objective on Mid-America Apartment Communities from $148.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given 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 price target of $143.44.
Check Out Our Latest Stock Analysis on MAA
About Mid-America Apartment Communities
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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