Naviter Wealth LLC Purchases 782 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Naviter Wealth LLC lifted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,230 shares of the real estate investment trust’s stock after purchasing an additional 782 shares during the quarter. Naviter Wealth LLC’s holdings in Mid-America Apartment Communities were worth $972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in Mid-America Apartment Communities during the third quarter worth about $35,000. First Financial Corp IN grew its position in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 86 shares during the period. CVA Family Office LLC bought a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. Emfo LLC acquired a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. Finally, Lindbrook Capital LLC raised its holdings in Mid-America Apartment Communities by 36.1% during the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MAA shares. Wedbush reissued a “neutral” rating and set a $135.00 price objective on shares of Mid-America Apartment Communities in a research report on Monday. Morgan Stanley lifted their price target on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Jefferies Financial Group reissued a “hold” rating and issued a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Finally, Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $133.00 to $147.00 in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $143.06.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 2,807 shares of company stock worth $353,955 over the last ninety days. Insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Stock Up 1.5 %

Shares of MAA stock opened at $131.13 on Tuesday. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The stock has a market cap of $15.31 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.90 and a beta of 0.80. The firm’s 50-day moving average is $129.10 and its 200-day moving average is $128.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.93). The business had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. Mid-America Apartment Communities’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.32 EPS. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.48%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.84%.

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.