Janney Montgomery Scott LLC Acquires 13,474 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Janney Montgomery Scott LLC raised its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 163.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,734 shares of the real estate investment trust’s stock after buying an additional 13,474 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Mid-America Apartment Communities were worth $2,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in Mid-America Apartment Communities by 9.2% during the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after buying an additional 13,045 shares in the last quarter. Columbus Macro LLC acquired a new position in Mid-America Apartment Communities during the fourth quarter valued at approximately $1,280,000. Sunesis Advisors LLC increased its position in shares of Mid-America Apartment Communities by 393.1% in the 4th quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock valued at $3,071,000 after buying an additional 18,210 shares in the last quarter. abrdn plc raised its stake in Mid-America Apartment Communities by 25.4% during the 4th quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock worth $11,502,000 after buying an additional 17,339 shares during the period. Finally, Wealth Alliance bought a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at about $235,000. Institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in 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 for the company in a report on Wednesday, February 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Scotiabank boosted their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Morgan Stanley increased their price objective on 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $144.18.

Mid-America Apartment Communities Stock Up 0.2 %

Shares of MAA stock opened at $133.20 on Friday. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.96 and a beta of 0.80. The firm’s 50-day moving average is $131.36 and its 200-day moving average is $129.72.

Mid-America Apartment Communities (NYSE:MAA) last released 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 business had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 earnings per share. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.86 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Friday, July 12th. Mid-America Apartment Communities’s payout ratio is presently 123.27%.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is owned by insiders.

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.