Cetera Trust Company N.A Buys Shares of 1,195 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Cetera Trust Company N.A bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,195 shares of the real estate investment trust’s stock, valued at approximately $161,000.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Mid-America Apartment Communities by 9.2% in the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after purchasing an additional 13,045 shares in the last quarter. Columbus Macro LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $1,280,000. Sunesis Advisors LLC raised its position in shares of Mid-America Apartment Communities by 393.1% during the 4th quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock valued at $3,071,000 after acquiring an additional 18,210 shares in the last quarter. Wealth Alliance acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $235,000. Finally, Covestor Ltd raised its position in shares of Mid-America Apartment Communities by 71.9% during the 3rd quarter. Covestor Ltd now owns 667 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 279 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 2,807 shares of company stock valued at $353,955 over the last three months. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MAA. Truist Financial lowered their price objective on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Jefferies Financial Group reissued a “hold” rating and issued a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. Piper Sandler reissued a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and increased their price target for the stock from $133.00 to $147.00 in a research note on Tuesday, January 16th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $149.00 price target on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.18.

Mid-America Apartment Communities Trading Up 1.1 %

Shares of Mid-America Apartment Communities stock opened at $127.47 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.83 and a beta of 0.80. The business has a fifty day simple moving average of $128.96 and a 200-day simple moving average of $128.65. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week 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 for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. During the same quarter last year, the company earned $2.32 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is 124.84%.

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.