1,401 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Acquired by Stonekeep Investments LLC

Stonekeep Investments LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,401 shares of the real estate investment trust’s stock, valued at approximately $217,000.

A number of other hedge funds have also modified their holdings of MAA. Acadian Asset Management LLC purchased a new position in Mid-America Apartment Communities in the 2nd quarter valued at approximately $241,000. American Century Companies Inc. grew its stake in Mid-America Apartment Communities by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 37,763 shares of the real estate investment trust’s stock worth $5,385,000 after purchasing an additional 3,732 shares in the last quarter. Federated Hermes Inc. increased its holdings in Mid-America Apartment Communities by 3,021.7% during the 2nd quarter. Federated Hermes Inc. now owns 718 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 695 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at about $371,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Mid-America Apartment Communities by 7.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 198,947 shares of the real estate investment trust’s stock valued at $28,372,000 after buying an additional 13,982 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on MAA shares. Scotiabank reduced their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective on the stock in a report on Tuesday, December 17th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Barclays began coverage on Mid-America Apartment Communities in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 price target on the stock. Finally, Royal Bank of Canada dropped their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $166.92.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $150.44 on Friday. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 33.96, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The business’s 50 day simple moving average is $156.20 and its 200-day simple moving average is $154.08. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. As a group, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.515 per share. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. This represents a $6.06 annualized dividend and a yield of 4.03%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

Mid-America Apartment Communities 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.