HighPoint Advisor Group LLC Invests $335,000 in Mid-America Apartment Communities, Inc. (NYSE:MAA)

HighPoint Advisor Group LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,574 shares of the real estate investment trust’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MAA. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth $713,500,000. Morgan Stanley grew its holdings in Mid-America Apartment Communities by 1.4% during the 3rd quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock worth $301,695,000 after acquiring an additional 31,813 shares during the period. Blackstone Inc. raised its position in shares of Mid-America Apartment Communities by 1.0% in the 4th quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock worth $277,507,000 after acquiring an additional 20,000 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Mid-America Apartment Communities by 5.7% in the 3rd quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock valued at $222,023,000 after purchasing an additional 93,020 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Mid-America Apartment Communities by 188.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after purchasing an additional 949,171 shares during the period. Institutional investors and hedge funds own 93.60% 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 market capitalization of $16.38 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 3.14 and a beta of 0.84. The business has a fifty day moving average price of $133.56 and a two-hundred day moving average price of $131.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12.

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

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Morgan Stanley increased their target price on shares of 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. Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Thursday, June 13th. Mizuho increased their price objective on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company boosted their target price on Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $141.97.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 2,807 shares of company stock worth $353,955. Insiders own 1.30% of the company’s stock.

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.