Chicago Partners Investment Group LLC grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 92.7% in the 1st quarter, HoldingsChannel reports. The fund owned 8,504 shares of the real estate investment trust’s stock after purchasing an additional 4,092 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Mid-America Apartment Communities were worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Global Assets Advisory LLC acquired a new position in shares of Mid-America Apartment Communities in the first quarter valued at approximately $62,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Mid-America Apartment Communities by 22.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,136 shares of the real estate investment trust’s stock worth $9,786,000 after purchasing an additional 14,847 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Mid-America Apartment Communities by 2.1% during the 1st quarter. Hsbc Holdings PLC now owns 439,822 shares of the real estate investment trust’s stock worth $53,736,000 after purchasing an additional 9,198 shares during the last quarter. Summit Securities Group LLC boosted its stake in Mid-America Apartment Communities by 1,150.3% in the 1st quarter. Summit Securities Group LLC now owns 2,163 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 1,990 shares during the period. Finally, Kestra Advisory Services LLC boosted its stake in Mid-America Apartment Communities by 24.3% in the 1st quarter. Kestra Advisory Services LLC now owns 6,926 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 1,353 shares during the period. Institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Trading Down 1.3%
MAA opened at $131.95 on Thursday. Mid-America Apartment Communities, Inc. has a twelve month low of $120.30 and a twelve month high of $153.93. The company has a 50-day simple moving average of $134.14 and a 200 day simple moving average of $132.10. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 39.98 and a beta of 0.74.
Mid-America Apartment Communities Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 185.45%.
Insider Buying and Selling
In other news, Director Tamara D. Fischer acquired 1,100 shares of the stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the transaction, the director directly owned 1,100 shares in the company, valued at approximately $141,405. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research firms have weighed in on MAA. Jefferies Financial Group cut Mid-America Apartment Communities from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, June 24th. Barclays lifted their price objective on shares of Mid-America Apartment Communities from $139.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Cantor Fitzgerald cut their price objective on shares of Mid-America Apartment Communities from $141.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus target price of $144.40.
View Our Latest Report on Mid-America Apartment Communities
Mid-America Apartment Communities 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.
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