Livforsakringsbolaget Skandia Omsesidigt Purchases 621 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 207.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 921 shares of the real estate investment trust’s stock after purchasing an additional 621 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Mid-America Apartment Communities were worth $124,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Mid-America Apartment Communities by 1.0% in the 1st quarter. BlackRock Inc. now owns 11,362,466 shares of the real estate investment trust’s stock valued at $1,716,187,000 after buying an additional 112,194 shares in the last quarter. FMR LLC raised its stake in shares of Mid-America Apartment Communities by 12.2% in the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after buying an additional 592,306 shares in the last quarter. Norges Bank acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $543,026,000. JPMorgan Chase & Co. increased its position in shares of Mid-America Apartment Communities by 41.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock worth $491,036,000 after purchasing an additional 956,154 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Mid-America Apartment Communities by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 2,635,202 shares of the real estate investment trust’s stock worth $397,203,000 after purchasing an additional 60,949 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $124.62 on Friday. 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, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The firm’s 50 day moving average price is $128.88 and its two-hundred day moving average price is $128.64. The firm has a market cap of $14.55 billion, a P/E ratio of 26.46, a PEG ratio of 2.80 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. During the same period in the previous year, the firm posted $2.32 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 124.84%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction 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 $40,057,103.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 2,807 shares of company stock valued at $353,955 over the last 90 days. 1.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Piper Sandler reiterated a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. The Goldman Sachs Group reissued a “buy” rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Finally, Truist Financial decreased their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $143.18.

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.