Summit Asset Management LLC Makes New $611,000 Investment in Mid-America Apartment Communities, Inc. $MAA

Summit Asset Management LLC acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 4,401 shares of the real estate investment trust’s stock, valued at approximately $611,000.

A number of other institutional investors also recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in shares of Mid-America Apartment Communities during the second quarter worth approximately $707,000. Tema ETFs LLC raised its position in Mid-America Apartment Communities by 76.7% in the 2nd quarter. Tema ETFs LLC now owns 2,486 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 1,079 shares during the last quarter. LifeGoal Investments LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter worth approximately $255,000. Elevation Wealth Partners LLC lifted its holdings in Mid-America Apartment Communities by 593.1% during the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 172 shares in the last quarter. Finally, Czech National Bank lifted its holdings in Mid-America Apartment Communities by 4.1% during the 2nd quarter. Czech National Bank now owns 33,128 shares of the real estate investment trust’s stock worth $4,603,000 after buying an additional 1,291 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MAA has been the subject of several research reports. Weiss Ratings raised Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. BNP Paribas Exane raised Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Mizuho boosted their price objective on Mid-America Apartment Communities from $148.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Finally, Piper Sandler cut their target price on shares of Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $144.88.

Insider Activity

In other Mid-America Apartment Communities news, Director Tamara D. Fischer bought 1,100 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average cost of $128.55 per share, with a total value of $141,405.00. Following the purchase, the director owned 1,100 shares in the company, valued at $141,405. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

MAA stock opened at $133.47 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $146.41. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02. The firm has a market cap of $15.49 billion, a PE ratio of 39.03 and a beta of 0.73. The business’s 50-day moving average price is $135.59 and its two-hundred day moving average price is $131.63.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a $1.53 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.6%. Mid-America Apartment Communities’s payout ratio is currently 178.95%.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.