Delta Investment Management LLC Invests $870,000 in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Delta Investment Management LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,474 shares of the real estate investment trust’s stock, valued at approximately $870,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blackstone Inc. grew its position in Mid-America Apartment Communities by 51.8% during the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after purchasing an additional 697,200 shares during the last quarter. FMR LLC boosted its stake in shares of Mid-America Apartment Communities by 12.2% during the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after buying an additional 592,306 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Mid-America Apartment Communities during the fourth quarter worth about $39,561,000. Qube Research & Technologies Ltd increased its position in Mid-America Apartment Communities by 178.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 314,252 shares of the real estate investment trust’s stock valued at $40,429,000 after acquiring an additional 201,488 shares during the period. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at approximately $19,138,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 1.6 %

Shares of MAA opened at $129.23 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80. The firm has a 50 day simple moving average of $129.06 and a 200-day simple moving average of $128.59.

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

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.55%. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and increased their price target for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Morgan Stanley boosted their target price on 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. Finally, Mizuho reduced their price target on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $143.18.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 2,807 shares of company stock worth $353,955 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Company 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.