Twin Capital Management Inc. purchased a new position in Mid-America Apartment Communities Inc (NYSE:MAA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 45,530 shares of the real estate investment trust’s stock, valued at approximately $5,362,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of MAA. Geode Capital Management LLC lifted its holdings in Mid-America Apartment Communities by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,833,523 shares of the real estate investment trust’s stock valued at $175,217,000 after acquiring an additional 142,096 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Mid-America Apartment Communities in the first quarter valued at $804,000. Virtu Financial LLC acquired a new stake in Mid-America Apartment Communities in the first quarter valued at $798,000. Raymond James Trust N.A. raised its stake in shares of Mid-America Apartment Communities by 18.9% during the 1st quarter. Raymond James Trust N.A. now owns 3,310 shares of the real estate investment trust’s stock worth $362,000 after buying an additional 526 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Mid-America Apartment Communities during the 1st quarter worth $209,000. 92.31% of the stock is owned by institutional investors.
MAA traded up $0.98 during midday trading on Thursday, hitting $123.62. The company’s stock had a trading volume of 16,052 shares, compared to its average volume of 617,720. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $14.16 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 5.09 and a beta of 0.39. The firm has a 50-day simple moving average of $120.47. Mid-America Apartment Communities Inc has a 52-week low of $91.21 and a 52-week high of $125.31.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 63.58%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 2,047 shares of Mid-America Apartment Communities stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $120.84, for a total value of $247,359.48. Following the completion of the sale, the director now owns 65,240 shares in the company, valued at approximately $7,883,601.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.
MAA has been the subject of several research reports. Scotiabank downgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and cut their price target for the stock from $114.00 to $107.00 in a research note on Tuesday, July 9th. Zacks Investment Research raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Tuesday, May 28th. Royal Bank of Canada lifted their price target on Mid-America Apartment Communities from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. KeyCorp lifted their price target on Mid-America Apartment Communities from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, ValuEngine upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $113.12.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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