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Davis Selected Advisers Acquires 15,790 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Mid-America Apartment Communities logo with Finance background

Key Points

  • Davis Selected Advisers increased its stake in Mid-America Apartment Communities (NYSE:MAA) by 44.3%, acquiring an additional 15,790 shares in the first quarter, bringing its total holdings to 51,450 shares worth $8,622,000.
  • Several other hedge funds also raised their positions in Mid-America Apartment Communities, with increases of up to 200% in some cases, contributing to 93.60% of the stock being owned by institutional investors.
  • Mid-America Apartment Communities recently announced a quarterly dividend of $1.515 per share, with a yield of 4.3%, although its dividend payout ratio stands at 124.69%.
  • Looking to Export and Analyze Mid-America Apartment Communities Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Davis Selected Advisers raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,450 shares of the real estate investment trust's stock after purchasing an additional 15,790 shares during the period. Davis Selected Advisers' holdings in Mid-America Apartment Communities were worth $8,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Mid-America Apartment Communities by 1.5% during the first quarter. Principal Financial Group Inc. now owns 192,228 shares of the real estate investment trust's stock worth $32,214,000 after purchasing an additional 2,800 shares during the last quarter. Aurora Investment Counsel purchased a new position in Mid-America Apartment Communities during the first quarter worth about $1,929,000. Summit Trail Advisors LLC boosted its holdings in Mid-America Apartment Communities by 106.9% during the first quarter. Summit Trail Advisors LLC now owns 4,401 shares of the real estate investment trust's stock worth $738,000 after purchasing an additional 2,274 shares during the last quarter. Starwood Capital Group Management L.L.C. boosted its holdings in Mid-America Apartment Communities by 17.7% during the fourth quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust's stock worth $33,914,000 after purchasing an additional 33,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in Mid-America Apartment Communities by 92.0% during the first quarter. Stratos Wealth Partners LTD. now owns 28,134 shares of the real estate investment trust's stock worth $4,715,000 after purchasing an additional 13,482 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Trading Down 1.1%

Shares of Mid-America Apartment Communities stock traded down $1.63 during trading on Friday, reaching $140.53. The company's stock had a trading volume of 481,246 shares, compared to its average volume of 895,795. Mid-America Apartment Communities, Inc. has a 52-week low of $138.67 and a 52-week high of $173.38. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 3.76 and a beta of 0.75. The firm's 50-day moving average is $148.93 and its two-hundred day moving average is $155.84. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.83.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.01. The company had revenue of $549.90 million during the quarter, compared to analysts' expectations of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 EPS. On average, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were given a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 124.69%.

Wall Street Analyst Weigh In

MAA has been the topic of several analyst reports. Royal Bank Of Canada cut their price target on shares of Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Barclays lifted their price objective on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. JMP Securities lifted their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 22nd. Piper Sandler lowered their price objective on shares of Mid-America Apartment Communities from $170.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Finally, UBS Group lowered their price objective on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and a consensus target price of $166.95.

View Our Latest Stock Report on MAA

Mid-America Apartment Communities Profile

(Free Report)

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 and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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