Proficio Capital Partners LLC Invests $10.04 Million in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Proficio Capital Partners LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 64,919 shares of the real estate investment trust's stock, valued at approximately $10,035,000. Proficio Capital Partners LLC owned about 0.06% of Mid-America Apartment Communities as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. State Street Corp grew its position in Mid-America Apartment Communities by 0.9% during the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust's stock worth $1,228,569,000 after buying an additional 65,696 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Mid-America Apartment Communities by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust's stock worth $497,624,000 after buying an additional 48,168 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Mid-America Apartment Communities by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,389,113 shares of the real estate investment trust's stock valued at $214,715,000 after buying an additional 33,528 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Mid-America Apartment Communities by 516.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust's stock worth $170,694,000 after purchasing an additional 899,960 shares during the last quarter. Finally, Aew Capital Management L P increased its stake in shares of Mid-America Apartment Communities by 516.3% during the fourth quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust's stock valued at $97,533,000 after buying an additional 528,608 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MAA. Wells Fargo & Company reduced their price objective on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. JMP Securities restated a "market outperform" rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. StockNews.com upgraded Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. KeyCorp upgraded shares of Mid-America Apartment Communities from a "sector weight" rating to an "overweight" rating and set a $180.00 price objective on the stock in a research report on Tuesday, December 17th. Finally, Truist Financial upped their price objective on Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $168.43.

Mid-America Apartment Communities Trading Down 0.3 %

MAA stock traded down $0.56 during midday trading on Wednesday, reaching $161.76. 471,201 shares of the company traded hands, compared to its average volume of 781,025. The firm has a market capitalization of $18.91 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 52-week low of $123.73 and a 52-week high of $173.38. The business has a 50 day moving average of $157.43 and a 200-day moving average of $157.46. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

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

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 3.75%. Mid-America Apartment Communities's payout ratio is currently 135.27%.

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.