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

Schnieders Capital Management LLC acquired a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,789 shares of the real estate investment trust’s stock, valued at approximately $778,000.

Several other hedge funds have also recently made changes to their positions in MAA. FMR LLC boosted its stake in Mid-America Apartment Communities by 12.2% during the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after purchasing an additional 592,306 shares during the last quarter. Morgan Stanley boosted its stake in Mid-America Apartment Communities by 1.4% during the 3rd quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock valued at $301,695,000 after purchasing an additional 31,813 shares during the last quarter. Blackstone Inc. boosted its stake in Mid-America Apartment Communities by 51.8% during the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after purchasing an additional 697,200 shares during the last quarter. Northern Trust Corp boosted its stake in Mid-America Apartment Communities by 5.7% during the 3rd quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock valued at $222,023,000 after purchasing an additional 93,020 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Mid-America Apartment Communities by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,014 shares of the real estate investment trust’s stock valued at $161,072,000 after purchasing an additional 16,889 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank upgraded Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $133.00 to $147.00 in a research note on Tuesday, January 16th. The Goldman Sachs Group restated a “buy” rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft began coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $139.00 target price on the stock. Piper Sandler restated a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $143.18.

Mid-America Apartment Communities Stock Performance

MAA stock traded up $0.03 during midday trading on Tuesday, reaching $127.50. 708,009 shares of the company’s stock traded hands, compared to its average volume of 881,823. The company has a 50-day moving average price of $128.96 and a two-hundred day moving average price of $128.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46. The firm has a market capitalization of $14.88 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.83 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The business had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. During the same period in the previous year, the firm earned $2.32 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued 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 payout ratio is currently 124.84%.

Mid-America Apartment Communities 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.