Sumitomo Mitsui DS Asset Management Company Ltd Buys 975 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,135 shares of the real estate investment trust’s stock after purchasing an additional 975 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Mid-America Apartment Communities were worth $4,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $35,000. CVA Family Office LLC bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at $40,000. First Financial Corp IN grew its position in Mid-America Apartment Communities by 40.8% during 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. Emfo LLC bought a new position in Mid-America Apartment Communities in the 4th quarter worth about $40,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Mid-America Apartment Communities by 36.1% in the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 106 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock opened at $127.47 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm has a market cap of $14.88 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.83 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 firm has a 50-day moving average of $128.96 and a 200-day moving average of $128.65.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The business had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.32 earnings per share. Sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current 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 given a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.61%. Mid-America Apartment Communities’s dividend payout ratio is 124.84%.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction dated 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 directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 2,807 shares of company stock valued at $353,955. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on MAA shares. Royal Bank of Canada reissued a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Morgan Stanley raised 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. Mizuho cut their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Jefferies Financial Group restated a “hold” rating and set a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.