117,136 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Acquired by Perpetual Ltd

Perpetual Ltd purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 117,136 shares of the real estate investment trust’s stock, valued at approximately $15,413,000. Perpetual Ltd owned 0.10% of Mid-America Apartment Communities as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. Nordea Investment Management AB boosted its holdings in Mid-America Apartment Communities by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after purchasing an additional 13,045 shares during the period. Janney Montgomery Scott LLC raised its holdings in Mid-America Apartment Communities by 163.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after acquiring an additional 13,474 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Mid-America Apartment Communities by 159.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock worth $3,531,000 after acquiring an additional 16,144 shares during the last quarter. Columbus Macro LLC acquired a new position in Mid-America Apartment Communities during the 4th quarter worth approximately $1,280,000. Finally, abrdn plc grew its holdings 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 acquiring an additional 17,339 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a “sell” rating in a research report on Tuesday, May 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Wedbush upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $154.00 in a report on Monday, May 6th. Morgan Stanley boosted their target price on Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 15th. Finally, Scotiabank upped 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.97.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 2,807 shares of company stock valued at $353,955. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Stock Down 0.8 %

Shares of NYSE:MAA opened at $140.19 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46. 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 $16.38 billion, a P/E ratio of 29.39, a P/E/G ratio of 3.14 and a beta of 0.84. The firm has a fifty day moving average price of $133.56 and a 200 day moving average price of $131.55.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The business had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. During the same period in the previous year, the company posted $2.28 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 annualized dividend and a dividend yield of 4.19%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 123.27%.

About Mid-America Apartment Communities

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.