Swiss National Bank lowered its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 337,376 shares of the real estate investment trust’s stock after selling 16,500 shares during the period. Swiss National Bank owned about 0.29% of Mid-America Apartment Communities worth $47,142,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new position in Mid-America Apartment Communities during the 2nd quarter worth about $25,000. Tobam bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $26,000. Sentry Investment Management LLC bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $36,000. United Community Bank lifted its position in shares of Mid-America Apartment Communities by 1,000.0% in the 3rd quarter. United Community Bank now owns 297 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 270 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth approximately $45,000. 93.60% of the stock is currently owned by institutional investors.
Mid-America Apartment Communities Price Performance
Shares of NYSE MAA opened at $127.80 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market cap of $14.94 billion, a PE ratio of 33.81, a P/E/G ratio of 2.13 and a beta of 0.79. The business has a 50-day simple moving average of $134.36 and a two-hundred day simple moving average of $135.38. Mid-America Apartment Communities, Inc. has a fifty-two week low of $125.75 and a fifty-two week high of $169.42.
Mid-America Apartment Communities Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were paid a dividend of $1.53 per share. This represents a $6.12 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Thursday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.52. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 161.90%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on MAA. Mizuho lifted their price objective on shares of Mid-America Apartment Communities from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Mid-America Apartment Communities in a report on Monday, December 29th. Citigroup dropped their target price on Mid-America Apartment Communities from $155.00 to $148.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Barclays cut their price target on Mid-America Apartment Communities from $144.00 to $138.00 and set an “equal weight” rating on the stock in a report on Friday, March 6th. Finally, Colliers Securities lowered Mid-America Apartment Communities from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $150.58.
View Our Latest Stock Report on Mid-America Apartment Communities
Insiders Place Their Bets
In other news, EVP Amber Fairbanks sold 233 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $136.50, for a total transaction of $31,804.50. Following the sale, the executive vice president directly owned 3,799 shares of the company’s stock, valued at $518,563.50. The trade was a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert J. Delpriore sold 5,426 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $138.23, for a total value of $750,035.98. Following the completion of the transaction, the executive vice president directly owned 49,745 shares in the company, valued at approximately $6,876,251.35. The trade was a 9.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,079 shares of company stock valued at $838,698. Corporate insiders own 1.20% of the company’s stock.
Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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