Fisher Asset Management LLC boosted its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 467,197 shares of the real estate investment trust’s stock after acquiring an additional 3,615 shares during the quarter. Fisher Asset Management LLC owned 0.41% of Mid-America Apartment Communities worth $44,711,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. SRS Capital Advisors Inc. acquired a new position in Mid-America Apartment Communities during the third quarter worth $120,000. First Hawaiian Bank acquired a new position in Mid-America Apartment Communities during the third quarter worth $171,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mid-America Apartment Communities in the third quarter valued at $225,000. Lourd Capital LLC purchased a new stake in Mid-America Apartment Communities in the third quarter valued at $227,000. Finally, Parametrica Management Ltd purchased a new stake in Mid-America Apartment Communities in the third quarter valued at $228,000. Institutional investors own 93.40% of the company’s stock.
Shares of NYSE MAA opened at $103.83 on Monday. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 3.20 and a beta of 0.50. Mid-America Apartment Communities Inc has a 1-year low of $85.16 and a 1-year high of $104.98. The company has a current ratio of 0.12, a quick ratio of 0.17 and a debt-to-equity ratio of 0.71.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, January 30th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $398.15 million during the quarter, compared to analysts’ expectations of $399.19 million. Mid-America Apartment Communities had a return on equity of 3.41% and a net margin of 14.01%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. On average, research analysts expect that Mid-America Apartment Communities Inc will post 6.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Tuesday, January 15th were given a $0.96 dividend. The ex-dividend date of this dividend was Monday, January 14th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.70%. Mid-America Apartment Communities’s dividend payout ratio is 63.58%.
MAA has been the topic of a number of research analyst reports. Barclays restated a “buy” rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a research report on Sunday, October 14th. Scotiabank initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, October 16th. They issued a “sector perform” rating on the stock. Capital One Financial initiated coverage on Mid-America Apartment Communities in a research report on Monday, October 22nd. They issued an “equal weight” rating and a $101.50 target price on the stock. Citigroup set a $105.00 price objective on Mid-America Apartment Communities and gave the company a “hold” rating in a report on Monday, November 5th. Finally, ValuEngine upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $104.56.
In related news, insider H Eric Bolton, Jr. sold 262 shares of the company’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $97.84, for a total value of $25,634.08. Following the completion of the sale, the insider now directly owns 224,347 shares of the company’s stock, valued at approximately $21,950,110.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 1,122 shares of company stock valued at $108,746. Insiders own 1.26% of the company’s stock.
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Mid-America Apartment Communities Company Profile
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.
See Also: Convertible Shares
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