NuWave Investment Management LLC Invests $191,000 in Mid-America Apartment Communities, Inc. (NYSE:MAA)

NuWave Investment Management LLC acquired a new position in Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 910 shares of the real estate investment trust’s stock, valued at approximately $191,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Veriti Management LLC raised its stake in shares of Mid-America Apartment Communities by 30.8% in the 1st quarter. Veriti Management LLC now owns 1,294 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 305 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth $360,000. US Asset Management LLC bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth $120,000. My Legacy Advisors LLC bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth $841,000. Finally, First Hawaiian Bank raised its stake in shares of Mid-America Apartment Communities by 13.7% in the 1st quarter. First Hawaiian Bank now owns 1,427 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 172 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Shares of Mid-America Apartment Communities stock opened at $166.11 on Thursday. The stock has a 50-day moving average price of $182.77 and a 200 day moving average price of $201.89. The company has a market cap of $19.17 billion, a P/E ratio of 32.19, a P/E/G ratio of 10.02 and a beta of 0.74. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.74. Mid-America Apartment Communities, Inc. has a 1 year low of $158.85 and a 1 year high of $231.63.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.13. Mid-America Apartment Communities had a return on equity of 9.77% and a net margin of 32.66%. During the same period in the prior year, the company posted $1.64 earnings per share. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 2.56%. Mid-America Apartment Communities’s payout ratio is currently 84.30%.

In other Mid-America Apartment Communities news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the company’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $202.50, for a total value of $4,050,000.00. Following the transaction, the chief operating officer now directly owns 44,983 shares of the company’s stock, valued at approximately $9,109,057.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.34% of the company’s stock.

A number of equities research analysts have recently issued reports on MAA shares. Scotiabank cut their target price on Mid-America Apartment Communities from $231.00 to $226.00 in a research report on Thursday, May 19th. StockNews.com initiated coverage on Mid-America Apartment Communities in a report on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler reduced their target price on Mid-America Apartment Communities from $240.00 to $230.00 in a report on Wednesday, May 4th. BTIG Research initiated coverage on Mid-America Apartment Communities in a report on Monday, May 9th. They set a “buy” rating and a $225.00 target price for the company. Finally, Credit Suisse Group initiated coverage on Mid-America Apartment Communities in a report on Wednesday. They set an “outperform” rating for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Moderate Buy” and an average target price of $214.82.

Mid-America Apartment Communities Profile (Get Rating)

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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

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