Murphy Middleton Hinkle & Parker Inc. acquired a new position in Mid-America Apartment Communities Inc (NYSE:MAA) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,910 shares of the real estate investment trust’s stock, valued at approximately $209,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC purchased a new position in Mid-America Apartment Communities during the 4th quarter valued at about $35,000. Doyle Wealth Management purchased a new position in Mid-America Apartment Communities during the 4th quarter valued at about $85,000. Welch Group LLC purchased a new position in shares of Mid-America Apartment Communities during the 1st quarter worth approximately $143,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $216,000. Finally, Chickasaw Capital Management LLC purchased a new position in shares of Mid-America Apartment Communities during the 1st quarter worth approximately $219,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. ValuEngine downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Raymond James downgraded Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a report on Thursday, April 4th. They noted that the move was a valuation call. Barclays reiterated a “buy” rating on shares of Mid-America Apartment Communities in a report on Wednesday, January 23rd. Finally, KeyCorp upped their target price on Mid-America Apartment Communities from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average target price of $107.35.
Shares of MAA traded down $1.35 during mid-day trading on Wednesday, reaching $105.23. The company had a trading volume of 7,171 shares, compared to its average volume of 405,280. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.71. Mid-America Apartment Communities Inc has a 52 week low of $87.47 and a 52 week high of $111.10. The stock has a market cap of $12.05 billion, a P/E ratio of 17.38, a P/E/G ratio of 3.30 and a beta of 0.49.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, January 30th. The real estate investment trust reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Mid-America Apartment Communities had a return on equity of 3.41% and a net margin of 14.01%. The firm had revenue of $398.15 million for the quarter, compared to analysts’ expectations of $399.19 million. During the same period in the previous year, the firm posted $1.50 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Mid-America Apartment Communities Inc will post 6.16 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $0.96 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.65%. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.
Mid-America Apartment Communities 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 Communities, and Non-Same Store and Other segments. The Same Store Communities segment focuses on communities that the company has owned and have been stabilized for at least a full twelve months as of the first day of the calendar year.
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