Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock Position Raised by Toroso Investments LLC

Posted by on Mar 17th, 2023

Toroso Investments LLC lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,043 shares of the real estate investment trust’s stock after acquiring an additional 982 shares during the quarter. Toroso Investments LLC’s holdings in Mid-America Apartment Communities were worth $2,023,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CVA Family Office LLC lifted its holdings in shares of Mid-America Apartment Communities by 57.5% in the third quarter. CVA Family Office LLC now owns 315 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 115 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Mid-America Apartment Communities by 88.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 2,818 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 1,324 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Mid-America Apartment Communities in the third quarter valued at $7,282,000. National Pension Service lifted its holdings in shares of Mid-America Apartment Communities by 0.6% in the third quarter. National Pension Service now owns 171,141 shares of the real estate investment trust’s stock valued at $26,291,000 after purchasing an additional 982 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Mid-America Apartment Communities by 0.9% in the third quarter. M&T Bank Corp now owns 14,495 shares of the real estate investment trust’s stock valued at $2,248,000 after purchasing an additional 127 shares in the last quarter. 91.20% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $149.43 on Friday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $141.13 and a fifty-two week high of $217.64. The stock’s 50-day moving average is $162.05 and its two-hundred day moving average is $159.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $17.42 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 8.26 and a beta of 0.77.

Mid-America Apartment Communities (NYSE:MAA – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.61). The business had revenue of $527.97 million during the quarter, compared to analyst estimates of $529.90 million. Mid-America Apartment Communities had a net margin of 31.51% and a return on equity of 10.72%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post 9.17 earnings per share for the current fiscal year.

Mid-America Apartment Communities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a $1.063 dividend. This represents a $4.25 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, March 14th. Mid-America Apartment Communities’s dividend payout ratio is currently 102.00%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group assumed coverage on Mid-America Apartment Communities in a report on Thursday, December 15th. They issued a “sell” rating and a $150.00 target price for the company. Credit Suisse Group lowered Mid-America Apartment Communities from an “outperform” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Monday, January 9th. Wolfe Research initiated coverage on Mid-America Apartment Communities in a report on Tuesday, November 22nd. They set a “market perform” rating for the company. Mizuho increased their price objective on Mid-America Apartment Communities from $175.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Finally, Barclays increased their price objective on Mid-America Apartment Communities from $185.00 to $192.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $177.00.

Insider Activity

In other news, CFO Albert M. Campbell III sold 883 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $153.85, for a total value of $135,849.55. Following the sale, the chief financial officer now directly owns 55,826 shares of the company’s stock, valued at $8,588,830.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO H Eric Bolton, Jr. sold 975 shares of Mid-America Apartment Communities stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $153.85, for a total transaction of $150,003.75. Following the sale, the chief executive officer now directly owns 287,141 shares of the company’s stock, valued at $44,176,642.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Albert M. Campbell III sold 883 shares of Mid-America Apartment Communities stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $153.85, for a total value of $135,849.55. Following the sale, the chief financial officer now directly owns 55,826 shares in the company, valued at $8,588,830.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,462 shares of company stock valued at $379,401. 1.34% of the stock is owned by insiders.

Mid-America Apartment Communities Profile

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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 following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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