Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by GeoWealth Management LLC

GeoWealth Management LLC grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,349 shares of the real estate investment trust’s stock after buying an additional 380 shares during the period. GeoWealth Management LLC’s holdings in Mid-America Apartment Communities were worth $672,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MAA. IFP Advisors Inc boosted its position in Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Headlands Technologies LLC acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $46,000. UMB Bank n.a. grew its position in Mid-America Apartment Communities by 30.5% in the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 75 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Mid-America Apartment Communities by 57.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 133 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MAA. Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their target price for the stock from $148.00 to $190.00 in a research report on Monday, March 10th. 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 for the company in a research note on Tuesday, January 21st. Mizuho lowered their price target on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. Finally, Truist Financial raised their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.76.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction on Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the sale, the chief executive officer now directly owns 319,813 shares of the company’s stock, valued at $47,949,563.09. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 7,140 shares of company stock valued at $1,142,842 over the last ninety days. Insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $156.98 on Monday. The firm has a 50 day simple moving average of $161.23 and a 200 day simple moving average of $157.06. Mid-America Apartment Communities, Inc. has a fifty-two week low of $125.55 and a fifty-two week high of $173.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $18.35 billion, a P/E ratio of 35.04, a P/E/G ratio of 3.72 and a beta of 0.79.

Mid-America Apartment Communities (NYSE:MAA) last released 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 return on equity of 8.53% and a net margin of 24.03%. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is 135.27%.

Mid-America Apartment Communities Company 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.