Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by Greenleaf Trust

Posted by Defense World Staff on Apr 8th, 2023

Greenleaf Trust raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 22.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,288 shares of the real estate investment trust’s stock after buying an additional 413 shares during the period. Greenleaf Trust’s holdings in Mid-America Apartment Communities were worth $359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAA. American Century Companies Inc. lifted its position in shares of Mid-America Apartment Communities by 228.2% during the 1st quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock valued at $834,000 after acquiring an additional 2,770 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Mid-America Apartment Communities by 62.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock valued at $1,078,000 after acquiring an additional 1,974 shares during the period. Cetera Advisor Networks LLC raised its position in shares of Mid-America Apartment Communities by 22.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 325 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Mid-America Apartment Communities during the 1st quarter worth approximately $393,000. Finally, Sei Investments Co. raised its position in shares of Mid-America Apartment Communities by 7.5% during the 1st quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock worth $10,619,000 after purchasing an additional 3,544 shares during the last quarter. 91.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on MAA shares. Mizuho lifted their price objective on Mid-America Apartment Communities from $175.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. BTIG Research cut their price target on Mid-America Apartment Communities from $225.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, January 11th. Piper Sandler cut their price target on Mid-America Apartment Communities from $195.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday. Credit Suisse Group downgraded Mid-America Apartment Communities from an “outperform” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Monday, January 9th. Finally, JMP Securities boosted their price target on Mid-America Apartment Communities from $180.00 to $190.00 and gave the company a “market outperform” rating in a report on Friday, February 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $174.75.

Mid-America Apartment Communities Stock Up 0.7 %

Shares of Mid-America Apartment Communities stock opened at $150.26 on Friday. The company has a fifty day moving average price of $157.87 and a 200 day moving average price of $156.94. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.71. Mid-America Apartment Communities, Inc. has a twelve month low of $138.68 and a twelve month high of $217.23. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 8.53 and a beta of 0.77.

Mid-America Apartment Communities (NYSE:MAA – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The real estate investment trust reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.61). Mid-America Apartment Communities had a return on equity of 10.72% and a net margin of 31.51%. The business had revenue of $527.97 million for the quarter, compared to analysts’ expectations of $529.90 million. During the same period last year, the company posted $1.90 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.74 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $5.60 dividend on an annualized basis and a yield of 3.73%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. Mid-America Apartment Communities’s payout ratio is currently 102.00%.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 480 shares of the business’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $150.21, for a total value of $72,100.80. Following the transaction, the executive vice president now owns 16,669 shares in the company, valued at approximately $2,503,850.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 842 shares of company stock worth $128,417 in the last quarter. 1.34% of the stock is owned by corporate insiders.

About Mid-America Apartment Communities

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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.