Metis Global Partners LLC Buys 1,499 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Metis Global Partners LLC lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,273 shares of the real estate investment trust's stock after acquiring an additional 1,499 shares during the quarter. Metis Global Partners LLC's holdings in Mid-America Apartment Communities were worth $2,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MAA. Ashton Thomas Securities LLC acquired a new position in Mid-America Apartment Communities in the third quarter worth approximately $25,000. Activest Wealth Management acquired a new position in Mid-America Apartment Communities in the third quarter worth approximately $32,000. Catalyst Capital Advisors LLC acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $37,000. IFP Advisors Inc boosted its stake in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 68 shares during the period. Finally, Quarry LP acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

MAA traded up $2.19 during trading on Wednesday, hitting $170.34. The stock had a trading volume of 1,121,317 shares, compared to its average volume of 661,573. The firm has a market cap of $19.91 billion, a PE ratio of 38.02, a P/E/G ratio of 3.72 and a beta of 0.91. Mid-America Apartment Communities, Inc. has a 12 month low of $123.73 and a 12 month high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a 50 day simple moving average of $155.08 and a 200-day simple moving average of $156.93.

Remove Ads

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.515 per share. This is an increase from Mid-America Apartment Communities's previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.56%. Mid-America Apartment Communities's payout ratio is presently 135.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a "sector perform" rating in a research note on Friday, February 7th. BMO Capital Markets decreased their target price on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research note on Tuesday, January 21st. KeyCorp raised shares of Mid-America Apartment Communities from a "sector weight" rating to an "overweight" rating and set a $180.00 target price for the company in a research note on Tuesday, December 17th. Mizuho decreased their target price on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, StockNews.com raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities presently has a consensus rating of "Moderate Buy" and an average target price of $167.00.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.