Nomura Asset Management Co. Ltd. Purchases 2,616 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Nomura Asset Management Co. Ltd. grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,073 shares of the real estate investment trust’s stock after acquiring an additional 2,616 shares during the period. Nomura Asset Management Co. Ltd. owned 0.14% of Mid-America Apartment Communities worth $21,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Nordea Investment Management AB grew its stake in Mid-America Apartment Communities by 9.2% during the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after purchasing an additional 13,045 shares during the period. Columbus Macro LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $1,280,000. Sunesis Advisors LLC grew its position in shares of Mid-America Apartment Communities by 393.1% during the 4th quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock worth $3,071,000 after buying an additional 18,210 shares during the period. abrdn plc increased its stake in shares of Mid-America Apartment Communities by 25.4% in the 4th quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock valued at $11,502,000 after acquiring an additional 17,339 shares in the last quarter. Finally, Wealth Alliance acquired a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at $235,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of MAA traded up $0.28 on Friday, reaching $133.20. 351,078 shares of the company’s stock traded hands, compared to its average volume of 695,330. The stock’s 50 day simple moving average is $131.36 and its two-hundred day simple moving average is $129.79. The stock has a market cap of $15.56 billion, a PE ratio of 27.92, a PEG ratio of 2.97 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($1.01). The business had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The company’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 business earned $2.28 earnings per share. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.86 earnings per share for the current fiscal 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. This represents a $5.88 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Friday, July 12th. Mid-America Apartment Communities’s payout ratio is 123.27%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Morgan Stanley boosted their target price on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th. Scotiabank increased their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Wedbush upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $154.00 in a report on Monday, May 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $144.18.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following 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 available at the SEC website. Insiders sold 2,807 shares of company stock valued at $353,955 in the last three months. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Company 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.