Steel Grove Capital Advisors LLC cut its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 49.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,838 shares of the real estate investment trust's stock after selling 5,807 shares during the period. Steel Grove Capital Advisors LLC's holdings in Mid-America Apartment Communities were worth $902,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of MAA. Capital World Investors increased its position in shares of Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock valued at $1,025,868,000 after purchasing an additional 2,088,143 shares during the last quarter. Norges Bank purchased a new stake in Mid-America Apartment Communities during the fourth quarter worth about $826,562,000. JPMorgan Chase & Co. increased its holdings in Mid-America Apartment Communities by 26.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after buying an additional 708,125 shares during the last quarter. Geode Capital Management LLC raised its position in Mid-America Apartment Communities by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after acquiring an additional 52,050 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Mid-America Apartment Communities by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust's stock valued at $410,641,000 after acquiring an additional 40,436 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.
Mid-America Apartment Communities Price Performance
MAA stock traded down $0.12 during midday trading on Friday, reaching $159.34. The company had a trading volume of 366,608 shares, compared to its average volume of 735,975. The firm has a 50-day moving average price of $161.38 and a 200-day moving average price of $157.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $18.63 billion, a P/E ratio of 35.57, a P/E/G ratio of 3.72 and a beta of 0.79. Mid-America Apartment Communities, Inc. has a 1 year low of $126.77 and a 1 year high of $173.38.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating 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%. On average, research analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities's payout ratio is currently 135.27%.
Insiders Place Their Bets
In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the transaction, the chief executive officer now directly owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 7,140 shares of company stock valued at $1,142,842. 1.30% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms recently commented on MAA. Morgan Stanley raised shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $159.50 to $168.00 in a report on Friday, January 24th. Truist Financial upped their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Barclays decreased their price objective on Mid-America Apartment Communities from $163.00 to $160.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Scotiabank raised shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $173.00 to $182.00 in a report on Friday, February 14th. Finally, Wells Fargo & Company reduced their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $168.76.
Check Out Our Latest Research Report on Mid-America Apartment Communities
About Mid-America Apartment Communities
(
Free Report)
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.
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