Sumitomo Mitsui DS Asset Management Company Ltd Has $4.46 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,135 shares of the real estate investment trust’s stock after purchasing an additional 975 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Mid-America Apartment Communities were worth $4,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MAA. abrdn plc lifted its holdings in shares of Mid-America Apartment Communities by 25.4% during the fourth quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock valued at $11,502,000 after acquiring an additional 17,339 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Mid-America Apartment Communities by 207.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 921 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 621 shares in the last quarter. River Road Asset Management LLC bought a new stake in Mid-America Apartment Communities during the fourth quarter worth about $6,741,000. Oakworth Capital Inc. increased its holdings in shares of Mid-America Apartment Communities by 0.6% during the fourth quarter. Oakworth Capital Inc. now owns 15,212 shares of the real estate investment trust’s stock worth $2,045,000 after buying an additional 98 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Mid-America Apartment Communities by 26.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,026 shares of the real estate investment trust’s stock valued at $10,626,000 after acquiring an additional 16,521 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $127.47 on Tuesday. The stock has a 50-day moving average of $128.96 and a 200-day moving average of $128.65. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. The stock has a market cap of $14.88 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 2.83 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. During the same quarter last year, the business posted $2.32 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Insider Activity

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,807 shares of company stock worth $353,955 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

MAA has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Piper Sandler restated a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $136.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective for the company. Finally, Jefferies Financial Group reissued a “hold” rating and set a $136.00 price target (down from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $143.18.

Mid-America Apartment Communities Company Profile

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.