Barings LLC bought a new position in Mid-America Apartment Communities Inc (NYSE:MAA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 415,353 shares of the real estate investment trust’s stock, valued at approximately $45,411,000. Mid-America Apartment Communities accounts for about 1.0% of Barings LLC’s portfolio, making the stock its 21st biggest position. Barings LLC owned about 0.36% of Mid-America Apartment Communities at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MAA. State Board of Administration of Florida Retirement System boosted its position in shares of Mid-America Apartment Communities by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 161,609 shares of the real estate investment trust’s stock valued at $17,669,000 after acquiring an additional 1,270 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $474,000. Duff & Phelps Investment Management Co. boosted its position in shares of Mid-America Apartment Communities by 0.8% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 672,155 shares of the real estate investment trust’s stock valued at $64,325,000 after acquiring an additional 5,475 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Mid-America Apartment Communities by 35.8% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 145,300 shares of the real estate investment trust’s stock valued at $13,905,000 after acquiring an additional 38,283 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $105,674,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
MAA has been the topic of several recent research reports. TheStreet upgraded shares of Mid-America Apartment Communities from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. Mizuho upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Wednesday, May 8th. ValuEngine upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Tuesday, May 28th. Finally, Raymond James downgraded shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $105.00 price target for the company. in a report on Thursday, April 4th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Mid-America Apartment Communities presently has an average rating of “Buy” and a consensus price target of $110.42.
Shares of MAA traded down $0.25 on Friday, reaching $117.79. 456,300 shares of the company’s stock were exchanged, compared to its average volume of 510,768. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 4.84 and a beta of 0.41. Mid-America Apartment Communities Inc has a 12 month low of $91.21 and a 12 month high of $118.69.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.95). The business had revenue of $401.17 million for the quarter, compared to the consensus estimate of $400.91 million. Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. As a group, analysts expect that Mid-America Apartment Communities Inc will post 6.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 63.58%.
In related news, Director Claude B. Nielsen sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $109.83, for a total transaction of $713,895.00. Following the completion of the transaction, the director now owns 12,117 shares in the company, valued at $1,330,810.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas L. Grimes, Jr. sold 340 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $108.58, for a total transaction of $36,917.20. Following the transaction, the chief operating officer now owns 54,444 shares of the company’s stock, valued at approximately $5,911,529.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,636 shares of company stock valued at $945,813. 1.30% of the stock is currently owned by insiders.
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Mid-America Apartment Communities Company Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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