Dynamic Technology Lab Private Ltd Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,530 shares of the real estate investment trust’s stock, valued at approximately $744,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its stake in shares of Mid-America Apartment Communities by 12.2% during the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after acquiring an additional 592,306 shares during the last quarter. Norges Bank purchased a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at about $713,500,000. Morgan Stanley increased its position in shares of Mid-America Apartment Communities by 1.4% during the third quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock valued at $301,695,000 after buying an additional 31,813 shares during the period. Blackstone Inc. increased its position in shares of Mid-America Apartment Communities by 51.8% during the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after buying an additional 697,200 shares during the period. Finally, Northern Trust Corp increased its position in shares of Mid-America Apartment Communities by 5.7% during the third quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock valued at $222,023,000 after buying an additional 93,020 shares during the period. 93.60% of the stock is owned by institutional investors.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 2,807 shares of company stock valued at $353,955. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MAA shares. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Piper Sandler restated a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $144.18.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $136.00 on Thursday. The firm has a fifty day moving average price of $131.25 and a 200-day moving average price of $129.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $15.89 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $2.28 earnings per share. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.87 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, July 15th. This represents a $5.88 annualized dividend and a yield of 4.32%. Mid-America Apartment Communities’s payout ratio is 123.27%.

Mid-America Apartment Communities 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.