Wealth Alliance Acquires Shares of 1,748 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wealth Alliance acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,748 shares of the real estate investment trust’s stock, valued at approximately $235,000.

A number of other hedge funds also recently bought and sold shares of the business. Emfo LLC acquired a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $40,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $282,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Mid-America Apartment Communities by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 382,483 shares of the real estate investment trust’s stock valued at $51,429,000 after buying an additional 4,544 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $955,000. Finally, Clarius Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $212,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MAA shares. Piper Sandler reissued a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $139.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Mizuho lowered their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.18.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $124.62 on Friday. The company has a 50 day simple moving average of $128.88 and a 200-day simple moving average of $128.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.80 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The company had revenue of $542.25 million during the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.32 earnings per share. Equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.84%.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 2,807 shares of company stock valued at $353,955. 1.33% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Profile

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.