Stonekeep Investments LLC Acquires New Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Stonekeep Investments LLC bought a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,401 shares of the real estate investment trust’s stock, valued at approximately $217,000.

A number of other institutional investors have also modified their holdings of MAA. Merit Financial Group LLC bought a new stake in Mid-America Apartment Communities during the 4th quarter valued at $577,000. Avanza Fonder AB purchased a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at $1,437,000. Capital Advisors Wealth Management LLC raised its holdings in shares of Mid-America Apartment Communities by 21.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 6,577 shares of the real estate investment trust’s stock valued at $1,017,000 after acquiring an additional 1,149 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Mid-America Apartment Communities by 36.4% in the fourth quarter. Park Avenue Securities LLC now owns 2,876 shares of the real estate investment trust’s stock worth $445,000 after acquiring an additional 768 shares during the period. Finally, Capital Investment Advisors LLC increased its position in Mid-America Apartment Communities by 27.1% during the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust’s stock valued at $9,040,000 after purchasing an additional 12,454 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

NYSE:MAA opened at $150.44 on Friday. The stock has a market capitalization of $17.58 billion, a PE ratio of 33.96, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The stock’s 50-day moving average price is $156.20 and its 200-day moving average price is $154.08.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 earnings per share. As a group, equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.03%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

Wall Street Analysts Forecast Growth

MAA has been the topic of several research reports. Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a report on Monday, October 21st. Barclays started coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 price target on the stock. KeyCorp raised Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective on the stock in a research report on Tuesday, December 17th. StockNews.com lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $166.92.

About Mid-America Apartment Communities

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.