BTR Capital Management Inc. cut its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,401 shares of the real estate investment trust’s stock after selling 730 shares during the period. Mid-America Apartment Communities comprises approximately 1.3% of BTR Capital Management Inc.’s holdings, making the stock its 29th largest position. BTR Capital Management Inc. owned approximately 0.05% of Mid-America Apartment Communities worth $7,701,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth $791,000. PGGM Investments acquired a new position in Mid-America Apartment Communities during the 4th quarter valued at $25,143,000. Sciencast Management LP acquired a new position in Mid-America Apartment Communities during the 4th quarter valued at $207,000. Sabal Trust CO raised its stake in Mid-America Apartment Communities by 1.7% during the 4th quarter. Sabal Trust CO now owns 169,949 shares of the real estate investment trust’s stock valued at $22,410,000 after purchasing an additional 2,839 shares during the last quarter. Finally, Patten Group Inc. acquired a new position in Mid-America Apartment Communities during the 4th quarter valued at $253,000. 92.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MAA stock traded up $0.21 during mid-day trading on Friday, reaching $133.90. The company’s stock had a trading volume of 578 shares, compared to its average volume of 498,609. Mid-America Apartment Communities Inc has a 1-year low of $98.94 and a 1-year high of $140.15. The company has a market cap of $15.03 billion, a P/E ratio of 22.16, a PEG ratio of 5.16 and a beta of 0.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.08 and a current ratio of 0.08. The firm’s 50-day moving average is $131.81 and its two-hundred day moving average is $129.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $1.00 dividend. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, January 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.99%. Mid-America Apartment Communities’s dividend payout ratio is currently 66.23%.
In other news, COO Thomas L. Grimes, Jr. sold 284 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $132.16, for a total value of $37,533.44. Following the sale, the chief operating officer now owns 67,546 shares of the company’s stock, valued at approximately $8,926,879.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO H Eric Bolton, Jr. sold 285 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $132.16, for a total transaction of $37,665.60. Following the completion of the sale, the chief executive officer now directly owns 254,539 shares in the company, valued at approximately $33,639,874.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,675 shares of company stock valued at $1,316,633. Corporate insiders own 1.30% of the company’s stock.
Several equities analysts recently commented on the stock. Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research note on Friday, November 8th. They set a “neutral” rating and a $149.00 target price for the company. Mizuho cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and cut their target price for the company from $145.00 to $140.00 in a research note on Wednesday. Royal Bank of Canada reiterated a “buy” rating and set a $135.00 target price on shares of Mid-America Apartment Communities in a research note on Wednesday, December 18th. Barclays set a $141.00 target price on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Capital One Financial upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Mid-America Apartment Communities has a consensus rating of “Buy” and an average target price of $129.73.
Mid-America Apartment Communities Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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