Bank of America Corp DE Purchases 87,091 Shares of Mid-America Apartment Communities, Inc. $MAA

Key Points

• Bank of America increased its MAA stake by 11.5%, purchasing 87,091 shares to hold 841,563 shares worth approximately $102.8 million. Institutional investors collectively own 93.6% of Mid-America Apartment Communities.
• Analyst sentiment is mixed, with MAA carrying a consensus “Hold” rating and an average price target of $145.38. Recent target changes ranged from $140 to $152.
• MAA declared a quarterly dividend of $1.53 per share, equivalent to $6.12 annually and a 4.5% yield; however, its dividend payout ratio is elevated at 178.95%.

Bank of America Corp DE boosted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 11.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 841,563 shares of the real estate investment trust's stock after purchasing an additional 87,091 shares during the quarter. Bank of America Corp DE owned about 0.72% of Mid-America Apartment Communities worth $102,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Physician Wealth Advisors Inc. lifted its position in shares of Mid-America Apartment Communities by 65.2% during the fourth quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Values First Advisors Inc. increased its stake in Mid-America Apartment Communities by 0.5% during the 1st quarter. Values First Advisors Inc. now owns 15,472 shares of the real estate investment trust's stock worth $1,889,000 after buying an additional 82 shares during the period. New Mexico Educational Retirement Board increased its stake in Mid-America Apartment Communities by 1.9% during the 4th quarter. New Mexico Educational Retirement Board now owns 5,400 shares of the real estate investment trust's stock worth $750,000 after buying an additional 100 shares during the period. Larson Financial Group LLC lifted its holdings in Mid-America Apartment Communities by 1.5% in the 4th quarter. Larson Financial Group LLC now owns 7,008 shares of the real estate investment trust's stock worth $974,000 after buying an additional 102 shares in the last quarter. Finally, World Investment Advisors boosted its position in Mid-America Apartment Communities by 5.3% in the 1st quarter. World Investment Advisors now owns 2,174 shares of the real estate investment trust's stock valued at $265,000 after buying an additional 110 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, Director Tamara D. Fischer purchased 1,100 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was bought at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the acquisition, the director directly owned 1,100 shares of the company's stock, valued at approximately $141,405. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on MAA. Mizuho lifted their price objective on Mid-America Apartment Communities from $148.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. Piper Sandler decreased their price target on shares of Mid-America Apartment Communities from $143.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Jefferies Financial Group raised shares of Mid-America Apartment Communities to a "hold" rating in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Mid-America Apartment Communities from $140.00 to $148.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Saturday. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $145.38.

Mid-America Apartment Communities Stock Performance

MAA opened at $134.90 on Friday. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 39.44 and a beta of 0.73. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $146.41. The business has a 50 day moving average price of $135.60 and a two-hundred day moving average price of $131.72.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a dividend of $1.53 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.5%. Mid-America Apartment Communities's dividend payout ratio is currently 178.95%.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc NYSE: MAA is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA's portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.

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