Mid-America Apartment Communities, Inc. (NYSE:MAA) Position Boosted by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,832 shares of the real estate investment trust’s stock after purchasing an additional 8,403 shares during the period. Handelsbanken Fonder AB’s holdings in Mid-America Apartment Communities were worth $5,356,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Blackstone Inc. raised its stake in Mid-America Apartment Communities by 51.8% during the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after acquiring an additional 697,200 shares during the period. FMR LLC raised its stake in Mid-America Apartment Communities by 12.2% during the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after acquiring an additional 592,306 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Mid-America Apartment Communities during the fourth quarter worth about $39,561,000. Qube Research & Technologies Ltd raised its stake in Mid-America Apartment Communities by 178.7% during the third quarter. Qube Research & Technologies Ltd now owns 314,252 shares of the real estate investment trust’s stock worth $40,429,000 after acquiring an additional 201,488 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $19,138,000. Institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MAA shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target on the stock. Jefferies Financial Group reiterated 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 note 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 note on Tuesday, April 9th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the company from $133.00 to $147.00 in a research note on Tuesday, January 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued 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.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 2,807 shares of company stock valued at $353,955. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Trading Down 0.9 %

Shares of NYSE:MAA opened at $127.20 on Friday. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.88 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. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09. The company has a 50 day moving average price of $129.10 and a 200 day moving average price of $128.63.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. During the same period in the prior year, the business posted $2.32 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend 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.