New York Life Investment Management LLC Purchases 14,776 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

New York Life Investment Management LLC increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 72.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,300 shares of the real estate investment trust’s stock after acquiring an additional 14,776 shares during the quarter. New York Life Investment Management LLC’s holdings in Mid-America Apartment Communities were worth $4,746,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MAA. Cannell & Co. acquired a new position in Mid-America Apartment Communities during the fourth quarter worth $202,000. Fiducient Advisors LLC acquired a new position in Mid-America Apartment Communities during the fourth quarter worth $205,000. Van ECK Associates Corp increased its holdings in Mid-America Apartment Communities by 14.8% during the fourth quarter. Van ECK Associates Corp now owns 47,699 shares of the real estate investment trust’s stock worth $6,414,000 after buying an additional 6,155 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in Mid-America Apartment Communities by 10,178.6% during the fourth quarter. Anchor Capital Advisors LLC now owns 349,575 shares of the real estate investment trust’s stock worth $47,004,000 after buying an additional 346,174 shares during the last quarter. Finally, Naviter Wealth LLC increased its holdings in Mid-America Apartment Communities by 12.1% during the fourth quarter. Naviter Wealth LLC now owns 7,230 shares of the real estate investment trust’s stock worth $972,000 after buying an additional 782 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

MAA has been the topic of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Mizuho decreased their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Morgan Stanley boosted their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $143.06.

Mid-America Apartment Communities Stock Up 1.0 %

MAA stock opened at $133.00 on Friday. The stock has a market capitalization of $15.53 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 3.38 and a beta of 0.80. The company has a current ratio of 0.12, a quick ratio of 0.09 and a debt-to-equity ratio of 0.74. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $158.46. The firm has a 50-day moving average price of $129.46 and a 200-day moving average price of $128.55.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The company had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.28 EPS. As a group, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.91 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’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 value of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,807 shares of company stock valued at $353,955 over the last quarter. 1.30% of the stock is owned by company insiders.

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.