TCW Group Inc. Invests $2.42 Million in Mid-America Apartment Communities, Inc. (NYSE:MAA)

TCW Group Inc. acquired a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,981 shares of the real estate investment trust's stock, valued at approximately $2,422,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. Principal Financial Group Inc. lifted its position in Mid-America Apartment Communities by 4.5% during the third quarter. Principal Financial Group Inc. now owns 140,817 shares of the real estate investment trust's stock valued at $18,116,000 after purchasing an additional 6,024 shares during the period. Ieq Capital LLC bought a new position in Mid-America Apartment Communities during the third quarter valued at approximately $297,000. Victory Capital Management Inc. lifted its position in Mid-America Apartment Communities by 2.8% during the third quarter. Victory Capital Management Inc. now owns 49,217 shares of the real estate investment trust's stock valued at $6,332,000 after purchasing an additional 1,351 shares during the period. Donoghue Forlines LLC lifted its position in Mid-America Apartment Communities by 30.1% during the third quarter. Donoghue Forlines LLC now owns 3,445 shares of the real estate investment trust's stock valued at $443,000 after purchasing an additional 797 shares during the period. Finally, Flputnam Investment Management Co. lifted its position in Mid-America Apartment Communities by 2.3% during the third quarter. Flputnam Investment Management Co. now owns 46,945 shares of the real estate investment trust's stock valued at $6,039,000 after purchasing an additional 1,052 shares during the period. Institutional investors own 93.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MAA. The Goldman Sachs Group reiterated a "buy" rating and issued a $149.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Mizuho decreased their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Truist Financial decreased their price target on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a "buy" rating on the stock in a research report on Tuesday, April 9th. Finally, UBS Group increased their price target on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a "sell" rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $144.18.

Mid-America Apartment Communities Price Performance

MAA traded up $0.28 during trading on Friday, hitting $133.20. 351,078 shares of the company traded hands, compared to its average volume of 695,330. The company has a market cap of $15.56 billion, a PE ratio of 27.92, a P/E/G ratio of 2.96 and a beta of 0.80. The stock's 50-day simple moving average is $131.36 and its two-hundred day simple moving average is $129.79. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.01). The company had revenue of $543.60 million for the quarter, compared to analysts' expectations of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The business's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.28 earnings per share. As a group, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.86 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $5.88 annualized dividend and a yield of 4.41%. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 123.27%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 2,807 shares of company stock worth $353,955 over the last 90 days. 1.30% of the stock is owned by insiders.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.