Vert Asset Management LLC Has $9.05 Million Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Vert Asset Management LLC lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 53,988 shares of the real estate investment trust’s stock after acquiring an additional 2,614 shares during the period. Mid-America Apartment Communities makes up about 3.1% of Vert Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Vert Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $9,047,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. CoreCap Advisors LLC grew its position in Mid-America Apartment Communities by 94.9% in the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 112 shares during the period. IFP Advisors Inc lifted its holdings in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 68 shares during the period. GoalVest Advisory LLC boosted its stake in shares of Mid-America Apartment Communities by 200.0% in the 1st quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 160 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth about $46,000. Finally, NBC Securities Inc. bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth about $46,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mid-America Apartment Communities

In other news, EVP Amber Fairbanks sold 173 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the sale, the executive vice president now owns 3,012 shares of the company’s stock, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of Mid-America Apartment Communities stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the transaction, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock valued at $1,171,707 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Price Performance

MAA opened at $149.95 on Monday. The company has a fifty day moving average price of $157.73 and a two-hundred day moving average price of $157.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities, Inc. has a 52 week low of $136.57 and a 52 week high of $173.38. The firm has a market capitalization of $17.55 billion, a PE ratio of 33.47, a P/E/G ratio of 3.72 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. The business had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $2.22 EPS. As a group, analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.04%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 126.25%.

Analyst Ratings Changes

MAA has been the topic of a number of recent analyst reports. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Robert W. Baird boosted their target price on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their price target for the stock from $148.00 to $190.00 in a research report on Monday, March 10th. JMP Securities lifted their price objective on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, May 22nd. Finally, Truist Financial decreased their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus price target of $169.50.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.