Belpointe Asset Management LLC purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 248 shares of the real estate investment trust’s stock, valued at approximately $39,000.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Mid-America Apartment Communities by 0.7% during the third quarter. Vanguard Group Inc. now owns 19,086,558 shares of the real estate investment trust’s stock worth $2,959,753,000 after buying an additional 141,902 shares during the last quarter. Cohen & Steers Inc. grew its position in shares of Mid-America Apartment Communities by 45.0% in the third quarter. Cohen & Steers Inc. now owns 5,889,416 shares of the real estate investment trust’s stock valued at $913,212,000 after purchasing an additional 1,827,696 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Mid-America Apartment Communities by 26.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,177,922 shares of the real estate investment trust’s stock worth $341,912,000 after buying an additional 459,097 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Mid-America Apartment Communities by 1.8% during the third quarter. Canada Pension Plan Investment Board now owns 1,417,041 shares of the real estate investment trust’s stock worth $219,741,000 after buying an additional 25,200 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position in Mid-America Apartment Communities by 76.9% during the first quarter. Centersquare Investment Management LLC now owns 1,347,471 shares of the real estate investment trust’s stock worth $282,228,000 after buying an additional 585,804 shares in the last quarter. Institutional investors and hedge funds own 91.20% of the company’s stock.
Insider Transactions at Mid-America Apartment Communities
In other news, EVP Melanie Carpenter sold 480 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The stock was 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 available through this link. Company insiders own 1.33% of the company’s stock.
Mid-America Apartment Communities Stock Performance
Mid-America Apartment Communities Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.87%. Mid-America Apartment Communities’s payout ratio is presently 98.25%.
Analyst Ratings Changes
A number of brokerages recently issued reports on MAA. JMP Securities increased their price target on Mid-America Apartment Communities from $180.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Friday, February 3rd. Mizuho reduced their price target on Mid-America Apartment Communities from $176.00 to $159.00 in a research report on Friday, May 19th. Wells Fargo & Company began coverage on Mid-America Apartment Communities in a research note on Wednesday, March 29th. They set an “equal weight” rating and a $156.50 target price for the company. Scotiabank cut Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and set a $150.00 target price for the company. in a research note on Wednesday, April 12th. Finally, The Goldman Sachs Group cut their target price on Mid-America Apartment Communities from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus target price of $169.30.
About Mid-America Apartment Communities
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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