Naviter Wealth LLC Has $1.20 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Naviter Wealth LLC raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.0% during the 1st quarter, HoldingsChannel reports. The fund owned 9,113 shares of the real estate investment trust’s stock after buying an additional 1,883 shares during the quarter. Naviter Wealth LLC’s holdings in Mid-America Apartment Communities were worth $1,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First United Bank & Trust bought a new stake in Mid-America Apartment Communities during the fourth quarter worth about $27,000. Mather Group LLC. acquired a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at approximately $32,000. First Financial Corp IN grew its stake in shares of Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 86 shares in the last quarter. CVA Family Office LLC acquired a new position in Mid-America Apartment Communities during the fourth quarter worth $40,000. Finally, Emfo LLC acquired a new position in Mid-America Apartment Communities during the fourth quarter worth $40,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAA has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the company a “buy” rating in a report on Monday, June 24th. Morgan Stanley upped their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a report on Wednesday, May 15th. Wells Fargo & Company raised their target price on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Mizuho upped their price target on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Finally, UBS Group boosted their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $142.44.

Mid-America Apartment Communities Trading Down 0.1 %

NYSE MAA opened at $140.97 on Wednesday. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 3.17 and a beta of 0.85. The business’s fifty day moving average is $135.97 and its 200 day moving average is $132.24.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data 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 business had revenue of $543.60 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 EPS. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

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 dividend of $1.47 per share. The ex-dividend date is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.17%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 123.27%.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the 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 completion of the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

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.