6,474 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Acquired by Delta Investment Management LLC

Delta Investment Management LLC purchased a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,474 shares of the real estate investment trust’s stock, valued at approximately $870,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Mid-America Apartment Communities during the third quarter valued at $35,000. First Financial Corp IN grew its stake in Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 86 shares during the last quarter. CVA Family Office LLC purchased a new stake in Mid-America Apartment Communities during the 4th quarter valued at about $40,000. Emfo LLC acquired a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at about $40,000. Finally, Lindbrook Capital LLC raised its stake in shares of Mid-America Apartment Communities by 36.1% in the third quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 2,807 shares of company stock worth $353,955 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $129.23 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. The company’s fifty day moving average price is $129.06 and its 200 day moving average price is $128.59. The stock has a market capitalization of $15.09 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.90 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46.

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

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.55%. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Wall Street Analyst Weigh In

MAA has been the topic of several research reports. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and increased their price target for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Jefferies Financial Group restated a “hold” rating and set a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $149.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $143.18.

About Mid-America Apartment Communities

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.