Diamond Hill Capital Management LLC Investment Advisor Invests $36.52 Million in Mid-America Apartment Communities, Inc. $MAA

Key Points

• Diamond Hill Capital Management acquired 262,830 shares of Mid-America Apartment Communities, valued at approximately $36.52 million, giving it a 0.23% stake. Institutional investors collectively own 93.6% of MAA.
• Analyst sentiment remains mixed, with eight Buy, eleven Hold and one Sell rating. The consensus rating is Hold, with an average price target of $144.88 versus the stock’s $133.47 opening price.
• MAA recently paid a quarterly dividend of $1.53 per share, equivalent to $6.12 annually and a 4.6% yield. The company operates more than 100 apartment communities with over 40,000 homes across Sun Belt markets.

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 262,830 shares of the real estate investment trust's stock, valued at approximately $36,518,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.23% of Mid-America Apartment Communities as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MAA. Physician Wealth Advisors Inc. increased its position in Mid-America Apartment Communities by 65.2% during the 4th 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. Elevation Wealth Partners LLC raised its stake in Mid-America Apartment Communities by 593.1% in the 2nd quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 172 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new position in Mid-America Apartment Communities in the 4th quarter valued at about $32,000. Measured Wealth Private Client Group LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $33,000. Finally, Root Financial Partners LLC boosted its stake in shares of Mid-America Apartment Communities by 3,100.0% during the 1st quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MAA shares. Mizuho lifted their price target on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. Cantor Fitzgerald raised their target price on shares of Mid-America Apartment Communities from $132.00 to $140.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Citigroup reaffirmed a "market outperform" rating on shares of Mid-America Apartment Communities in a research note on Wednesday, June 10th. Piper Sandler cut their price target on Mid-America Apartment Communities from $143.00 to $140.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Finally, Jefferies Financial Group raised Mid-America Apartment Communities to a "hold" rating in a research note on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $144.88.

Mid-America Apartment Communities Trading Down 0.0%

NYSE:MAA opened at $133.47 on Monday. The firm has a market capitalization of $15.49 billion, a PE ratio of 39.03 and a beta of 0.73. The business's 50-day moving average is $135.59 and its two-hundred day moving average is $131.60. 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 12 month low of $120.30 and a 12 month high of $146.41.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $1.53 per share. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Wednesday, July 15th. Mid-America Apartment Communities's payout ratio is presently 178.95%.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, Director Tamara D. Fischer bought 1,100 shares of Mid-America Apartment Communities stock in a transaction dated 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 purchase, the director owned 1,100 shares in the company, valued at $141,405. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company's stock.

About Mid-America Apartment Communities

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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