Knights of Columbus Asset Advisors LLC Purchases New Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Knights of Columbus Asset Advisors LLC has invested approximately $3.69 million in Mid-America Apartment Communities, acquiring 22,046 shares of the real estate investment trust's stock.
• Analysts are mixed on MAA, with Barclays raising their price target to $172.00 while UBS Group lowered their target to $142.00, resulting in an overall average price target of $168.81.
• Mid-America Apartment Communities recently declared a quarterly dividend of $1.515 per share, translating to an annualized dividend yield of 3.99% despite a high payout ratio of 126.25%.

Knights of Columbus Asset Advisors LLC acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,046 shares of the real estate investment trust's stock, valued at approximately $3,694,000.

Several other large investors have also bought and sold shares of MAA. Larson Financial Group LLC lifted its stake in Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 91 shares during the last quarter. CoreCap Advisors LLC increased its holdings in shares of Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after buying an additional 112 shares in the last quarter. GoalVest Advisory LLC lifted its stake in shares of Mid-America Apartment Communities by 200.0% in the 1st quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 160 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at $46,000. Finally, NBC Securities Inc. acquired a new stake in shares of Mid-America Apartment Communities during the 1st quarter valued at $46,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president owned 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on MAA shares. Barclays lifted their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. The Goldman Sachs Group downgraded shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 target price on the stock. in a research report on Friday, July 11th. UBS Group decreased their price target on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating for the company in a research report on Tuesday, July 15th. Mizuho dropped their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Raymond James Financial cut shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $168.81.

Mid-America Apartment Communities Stock Up 0.0%

Shares of Mid-America Apartment Communities stock traded up $0.07 during trading on Friday, reaching $151.75. 560,418 shares of the company traded hands, compared to its average volume of 860,699. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $17.76 billion, a PE ratio of 31.61, a P/E/G ratio of 3.88 and a beta of 0.75. The company has a 50 day moving average price of $151.35 and a 200-day moving average price of $156.20. Mid-America Apartment Communities, Inc. has a 1-year low of $139.60 and a 1-year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The company had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. During the same quarter in the prior year, the firm earned $2.22 EPS. The business's revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is 126.25%.

Mid-America Apartment Communities Company Profile

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.