Starwood Capital Group Management L.L.C. Has $33.91 Million Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Starwood Capital Group Management L.L.C. increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 219,407 shares of the real estate investment trust’s stock after buying an additional 33,000 shares during the quarter. Mid-America Apartment Communities accounts for about 20.7% of Starwood Capital Group Management L.L.C.’s portfolio, making the stock its 2nd biggest holding. Starwood Capital Group Management L.L.C. owned about 0.19% of Mid-America Apartment Communities worth $33,914,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Park Avenue Securities LLC grew its stake in Mid-America Apartment Communities by 36.4% in the fourth quarter. Park Avenue Securities LLC now owns 2,876 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 768 shares in the last quarter. Avanza Fonder AB bought a new position in Mid-America Apartment Communities in the fourth quarter valued at approximately $1,437,000. Merit Financial Group LLC bought a new position in Mid-America Apartment Communities in the fourth quarter valued at approximately $577,000. Stonekeep Investments LLC bought a new position in Mid-America Apartment Communities in the fourth quarter valued at approximately $217,000. Finally, HB Wealth Management LLC grew its stake in Mid-America Apartment Communities by 322.2% in the fourth quarter. HB Wealth Management LLC now owns 12,328 shares of the real estate investment trust’s stock valued at $1,906,000 after purchasing an additional 9,408 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Scotiabank raised their price objective on Mid-America Apartment Communities from $182.00 to $194.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. Robert W. Baird raised their price objective on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Royal Bank of Canada raised their price objective on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets cut their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus target price of $169.09.

Mid-America Apartment Communities Trading Up 1.7%

Shares of MAA opened at $163.57 on Friday. Mid-America Apartment Communities, Inc. has a 52-week low of $126.77 and a 52-week high of $173.38. The business’s fifty day moving average is $160.48 and its 200-day moving average is $158.12. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $19.15 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.72 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same quarter last year, the company posted $2.22 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $1.515 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.70%. Mid-America Apartment Communities’s payout ratio is 126.25%.

Insider Activity

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,358 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the transaction, the chief executive officer now owns 324,171 shares of the company’s stock, valued at $53,890,187.04. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the sale, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,313 shares of company stock worth $1,171,707. Insiders own 1.20% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.