Peapack Gladstone Financial Corp Purchases 101 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Peapack Gladstone Financial Corp grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 20,189 shares of the real estate investment trust’s stock after buying an additional 101 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Mid-America Apartment Communities were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in Mid-America Apartment Communities by 200.5% during the fourth quarter. Russell Investments Group Ltd. now owns 455,640 shares of the real estate investment trust’s stock worth $70,300,000 after acquiring an additional 304,021 shares during the period. Resona Asset Management Co. Ltd. bought a new position in shares of Mid-America Apartment Communities during the fourth quarter worth approximately $10,012,000. Huntington National Bank raised its position in shares of Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 70 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 buying an additional 40,436 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the sale, the chief executive officer now owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 7,140 shares of company stock valued at $1,142,842 in the last three months. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

MAA has been the subject of several analyst reports. Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and lifted their price objective for the company from $148.00 to $190.00 in a report on Monday, March 10th. Wells Fargo & Company cut their price objective on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. BMO Capital Markets reduced their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 21st. StockNews.com upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target on the stock in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Moderate Buy” and a consensus target price of $168.90.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $150.98 on Tuesday. The business’s 50-day moving average price is $161.08 and its 200-day moving average price is $157.39. Mid-America Apartment Communities, Inc. has a 12 month low of $123.73 and a 12 month high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $17.65 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.72 and a beta of 0.79.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.01%. Mid-America Apartment Communities’s payout ratio is 135.27%.

Mid-America Apartment Communities Profile

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.