Massachusetts Financial Services Co. MA Acquires 643 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Massachusetts Financial Services Co. MA boosted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 502,407 shares of the real estate investment trust’s stock after buying an additional 643 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.43% of Mid-America Apartment Communities worth $64,635,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MAA. Cullen Frost Bankers Inc. acquired a new stake in Mid-America Apartment Communities in the third quarter valued at about $35,000. ST Germain D J Co. Inc. acquired a new stake in Mid-America Apartment Communities in the second quarter valued at about $36,000. Quarry LP boosted its stake in Mid-America Apartment Communities by 186.5% in the first quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 179 shares in the last quarter. Hibernia Wealth Partners LLC bought a new position in Mid-America Apartment Communities in the third quarter valued at about $46,000. Finally, Lindbrook Capital LLC raised its position in Mid-America Apartment Communities by 36.1% in the third quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 106 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $131.33, for a total transaction of $48,723.43. Following the completion of the sale, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $131.33, for a total transaction of $48,723.43. Following the completion of the sale, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the sale, the chief executive officer now owns 304,523 shares of the company’s stock, valued at approximately $39,651,939.83. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MAA has been the subject of several research reports. Mizuho increased their target price on Mid-America Apartment Communities from $124.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Scotiabank upgraded Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Truist Financial upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their target price for the company from $154.00 to $158.00 in a research report on Tuesday, January 16th. Finally, Bank of America downgraded Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $136.00 to $112.00 in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $145.84.

View Our Latest Analysis on Mid-America Apartment Communities

Mid-America Apartment Communities Trading Down 0.6 %

NYSE MAA opened at $124.48 on Friday. The business has a 50 day simple moving average of $131.52 and a 200 day simple moving average of $133.10. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $176.36. The stock has a market capitalization of $14.53 billion, a P/E ratio of 26.43, a P/E/G ratio of 4.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.26 and a quick ratio of 0.26.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.72% and a net margin of 25.73%. The business had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same period in the prior year, the business earned $2.32 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that Mid-America Apartment Communities, Inc. will post 9.14 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, January 11th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.84%.

About Mid-America Apartment Communities

(Free Report)

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily 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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