Eaton Vance Management boosted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 32.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 915,223 shares of the real estate investment trust’s stock after purchasing an additional 224,263 shares during the quarter. Eaton Vance Management owned about 0.80% of Mid-America Apartment Communities worth $132,122,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Cohen & Steers Inc. raised its holdings in Mid-America Apartment Communities by 32,996.5% in the 1st quarter. Cohen & Steers Inc. now owns 2,315,103 shares of the real estate investment trust’s stock valued at $334,228,000 after acquiring an additional 2,308,108 shares in the last quarter. Norges Bank acquired a new position in Mid-America Apartment Communities in the 4th quarter valued at approximately $154,432,000. JPMorgan Chase & Co. raised its holdings in shares of Mid-America Apartment Communities by 27.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,370,269 shares of the real estate investment trust’s stock worth $630,891,000 after buying an additional 934,847 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Mid-America Apartment Communities by 2,535.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 968,420 shares of the real estate investment trust’s stock worth $139,801,000 after buying an additional 931,672 shares in the last quarter. Finally, Cbre Clarion Securities LLC raised its holdings in shares of Mid-America Apartment Communities by 36.9% in the 1st quarter. Cbre Clarion Securities LLC now owns 1,005,392 shares of the real estate investment trust’s stock worth $145,138,000 after buying an additional 270,747 shares in the last quarter. Hedge funds and other institutional investors own 91.66% of the company’s stock.
In other news, CFO Albert M. Campbell III sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $160.33, for a total value of $1,603,300.00. Following the transaction, the chief financial officer now directly owns 62,396 shares in the company, valued at approximately $10,003,950.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Stockert sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 10th. The stock was sold at an average price of $171.86, for a total value of $687,440.00. Following the completion of the transaction, the director now owns 62,786 shares in the company, valued at $10,790,401.96. The disclosure for this sale can be found here. Insiders sold a total of 31,039 shares of company stock worth $4,960,570 over the last quarter. Corporate insiders own 1.39% of the company’s stock.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($1.21). The firm had revenue of $425.01 million during the quarter, compared to the consensus estimate of $423.65 million. Mid-America Apartment Communities had a net margin of 15.76% and a return on equity of 4.33%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 6.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Thursday, July 15th will be given a $1.025 dividend. The ex-dividend date of this dividend is Wednesday, July 14th. This represents a $4.10 dividend on an annualized basis and a yield of 2.21%. Mid-America Apartment Communities’s payout ratio is 63.76%.
A number of equities analysts have recently issued reports on the company. Royal Bank of Canada assumed coverage on Mid-America Apartment Communities in a report on Tuesday, March 30th. They issued a “sector perform” rating and a $146.00 target price for the company. Truist Securities raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price target for the company from $151.00 to $178.00 in a report on Friday, June 4th. Colliers Securities reaffirmed a “hold” rating and set a $175.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday. Raymond James raised their price target on Mid-America Apartment Communities from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Monday. Finally, Truist raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price target for the company from $151.00 to $178.00 in a report on Friday, June 4th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $156.25.
Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc is a real estate investment trust. The firm engages in the operation, acquisition and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.
Further Reading: Buyback
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