Schnieders Capital Management LLC Takes $778,000 Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Schnieders Capital Management LLC acquired a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, HoldingsChannel reports. The fund acquired 5,789 shares of the real estate investment trust’s stock, valued at approximately $778,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAA. Blackstone Inc. lifted its position in Mid-America Apartment Communities by 51.8% during the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after acquiring an additional 697,200 shares during the last quarter. FMR LLC lifted its position in Mid-America Apartment Communities by 12.2% during the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after acquiring an additional 592,306 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $39,561,000. Qube Research & Technologies Ltd lifted its position in Mid-America Apartment Communities by 178.7% during the third quarter. Qube Research & Technologies Ltd now owns 314,252 shares of the real estate investment trust’s stock valued at $40,429,000 after acquiring an additional 201,488 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $19,138,000. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Performance

MAA stock traded up $0.03 during midday trading on Tuesday, hitting $127.50. 708,009 shares of the stock traded hands, compared to its average volume of 881,823. The firm has a market cap of $14.88 billion, a P/E ratio of 27.07, a PEG ratio of 2.83 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The stock’s fifty day simple moving average is $128.96 and its 200-day simple moving average is $128.65. 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 released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.93). The firm had revenue of $542.25 million for 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.32 EPS. On average, analysts expect that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.61%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MAA shares. Mizuho decreased their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Finally, Truist Financial reduced their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Two 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. According to MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average price target of $143.18.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the SEC, 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 90 days. 1.30% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Company Profile

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.