3,569 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Purchased by Cerity Partners LLC

Cerity Partners LLC acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,569 shares of the real estate investment trust’s stock, valued at approximately $480,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MAA. Cullen Frost Bankers Inc. bought a new position in shares of Mid-America Apartment Communities in the third quarter worth approximately $35,000. First Financial Corp IN lifted its stake in shares of Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 86 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Mid-America Apartment Communities in the fourth quarter worth approximately $40,000. Lindbrook Capital LLC lifted its position in Mid-America Apartment Communities by 36.1% during the third quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 106 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in Mid-America Apartment Communities by 22.2% during the third quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 84 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $127.20 on Friday. The firm has a fifty day moving average price of $129.10 and a 200-day moving average price of $128.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $14.85 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.86 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The firm had revenue of $542.25 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $2.32 earnings per share. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.62%. Mid-America Apartment Communities’s dividend payout ratio is 124.84%.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

MAA has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Jefferies Financial Group restated a “hold” rating and set a $136.00 price objective (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Truist Financial lowered their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $143.18.

Mid-America Apartment Communities 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.