Delta Investment Management LLC Makes New $870,000 Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Delta Investment Management LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,474 shares of the real estate investment trust's stock, valued at approximately $870,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MAA. Raleigh Capital Management Inc. boosted its position in shares of Mid-America Apartment Communities by 22.2% during the third quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust's stock worth $60,000 after buying an additional 84 shares during the period. First Financial Corp IN boosted its stake in Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 86 shares in the last quarter. Blue Trust Inc. boosted its stake in Mid-America Apartment Communities by 22.8% during the 4th quarter. Blue Trust Inc. now owns 511 shares of the real estate investment trust's stock valued at $65,000 after purchasing an additional 95 shares in the last quarter. Oakworth Capital Inc. boosted its stake in Mid-America Apartment Communities by 0.6% during the 4th quarter. Oakworth Capital Inc. now owns 15,212 shares of the real estate investment trust's stock valued at $2,045,000 after purchasing an additional 98 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in Mid-America Apartment Communities by 3.4% during the 4th quarter. Diversified Trust Co now owns 3,079 shares of the real estate investment trust's stock valued at $414,000 after purchasing an additional 102 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Up 1.6 %

Shares of NYSE MAA traded up $2.03 during mid-day trading on Friday, reaching $129.23. The company had a trading volume of 874,720 shares, compared to its average volume of 699,173. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $15.09 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80. The stock's 50 day moving average is $129.06 and its 200-day moving average is $128.56.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The company had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. During the same period last year, the company posted $2.32 earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 124.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MAA shares. Piper Sandler reiterated a "neutral" rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Morgan Stanley increased their price objective on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an "equal weight" rating in a research report on Monday, February 26th. The Goldman Sachs Group reiterated a "buy" rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $136.00 price objective (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $143.18.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares of the company's stock, valued at $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is owned by insiders.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.