Inspire Investing LLC purchased a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE: MAA – Get Rating ) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,702 shares of the real estate investment trust’s stock, valued at approximately $356,000.
Other large investors have also made changes to their positions in the company. UMB Bank NA MO purchased a new position in Mid-America Apartment Communities in the fourth quarter worth about $30,000. Johnson Financial Group Inc. bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $40,000. CVA Family Office LLC raised its stake in shares of Mid-America Apartment Communities by 42.9% in the 4th quarter. CVA Family Office LLC now owns 200 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 60 shares in the last quarter. Corbenic Partners LLC purchased a new position in shares of Mid-America Apartment Communities in the first quarter valued at approximately $51,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $56,000. 93.06% of the stock is owned by hedge funds and other institutional investors.
MAA has been the subject of a number of analyst reports. Mizuho decreased their price objective on shares of Mid-America Apartment Communities from $221.00 to $178.00 and set a “neutral” rating on the stock in a research report on Monday, June 27th. Jefferies Financial Group reduced their target price on shares of Mid-America Apartment Communities from $212.00 to $201.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Piper Sandler reduced their price objective on shares of Mid-America Apartment Communities to $200.00 in a research report on Monday. Barclays cut their target price on Mid-America Apartment Communities from $238.00 to $211.00 in a research report on Tuesday, May 10th. Finally, Scotiabank cut their target price on Mid-America Apartment Communities from $231.00 to $226.00 in a report on Thursday, May 19th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.31, according to MarketBeat.com.
In other news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the business’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $202.50, for a total value of $4,050,000.00. Following the completion of the sale, the chief operating officer now owns 44,983 shares in the company, valued at approximately $9,109,057.50. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. 1.34% of shares are owned by corporate insiders.
Shares of NYSE:MAA opened at $175.45 on Tuesday. The business’s 50-day moving average is $177.40 and its 200-day moving average is $199.20. The stock has a market cap of $20.25 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 10.68 and a beta of 0.73. Mid-America Apartment Communities, Inc. has a 52-week low of $158.85 and a 52-week high of $231.63. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.74.
Mid-America Apartment Communities (NYSE:MAA – Get Rating ) last issued its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.13. Mid-America Apartment Communities had a return on equity of 9.77% and a net margin of 32.66%. During the same period in the previous year, the business reported $1.64 earnings per share. On average, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.22 EPS for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Monday, July 25th. Stockholders of record on Friday, July 15th will be paid a dividend of $1.25 per share. This represents a yield of 2.85%. The ex-dividend date of this dividend is Thursday, July 14th. Mid-America Apartment Communities’ payout ratio is 84.30%.
About Housing Communities in Middle America (Get Rating)
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on providing full-cycle and superior investment results for shareholders through the ownership, management, acquisition, development and redevelopment of quality residential communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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