Fielder Capital Group LLC Invests $7.46 Million in Mid-America Apartment Communities, Inc. $MAA

Key Points

• Fielder Capital Group initiated a $7.46 million position in Mid-America Apartment Communities during the second quarter, purchasing 53,661 shares. MAA now represents 1.6% of the fund’s portfolio, while institutional investors and hedge funds collectively own 93.6% of shares.
• MAA announced a quarterly dividend of $1.53 per share, equivalent to $6.12 annually and a 4.6% yield. The reported payout ratio was 178.95%.
• Analysts remain mixed, resulting in a consensus “Hold” rating and an average price target of $144.88, compared with the stock’s reported market price of $133.47.

Fielder Capital Group LLC bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,661 shares of the real estate investment trust's stock, valued at approximately $7,456,000. Mid-America Apartment Communities comprises 1.6% of Fielder Capital Group LLC's investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Mid-America Apartment Communities by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,821 shares of the real estate investment trust's stock worth $2,149,000 after buying an additional 620 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Mid-America Apartment Communities by 47.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 927 shares of the real estate investment trust's stock valued at $137,000 after buying an additional 299 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Mid-America Apartment Communities by 7.1% in the 2nd quarter. Baird Financial Group Inc. now owns 6,595 shares of the real estate investment trust's stock valued at $976,000 after buying an additional 437 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at $230,000. Finally, Bank of Nova Scotia raised its stake in Mid-America Apartment Communities by 21.7% during the 2nd quarter. Bank of Nova Scotia now owns 15,538 shares of the real estate investment trust's stock worth $2,300,000 after acquiring an additional 2,771 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Tamara D. Fischer purchased 1,100 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average price of $128.55 per share, with a total value of $141,405.00. Following the completion of the acquisition, the director directly owned 1,100 shares in the company, valued at $141,405. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Stock Down 0.0%

Shares of NYSE:MAA opened at $133.47 on Monday. Mid-America Apartment Communities, Inc. has a 1-year low of $120.30 and a 1-year high of $146.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $15.49 billion, a P/E ratio of 39.03 and a beta of 0.73. The firm has a fifty day moving average price of $135.59 and a 200 day moving average price of $131.60.

Mid-America Apartment Communities Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MAA shares. Jefferies Financial Group raised shares of Mid-America Apartment Communities to a "hold" rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their price objective on Mid-America Apartment Communities from $155.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, August 12th. Scotiabank reduced their target price on Mid-America Apartment Communities from $137.00 to $134.00 and set a "sector underperform" rating for the company in a report on Tuesday, August 4th. Wells Fargo & Company upped their target price on Mid-America Apartment Communities from $140.00 to $148.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and an average target price of $144.88.

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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