Naviter Wealth LLC Purchases 768 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Naviter Wealth LLC increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 10.0% during the fourth quarter, Holdings Channel reports. The fund owned 8,474 shares of the real estate investment trust’s stock after purchasing an additional 768 shares during the period. Naviter Wealth LLC’s holdings in Mid-America Apartment Communities were worth $1,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Mid-America Apartment Communities by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,589 shares of the real estate investment trust’s stock worth $2,255,000 after purchasing an additional 191 shares in the last quarter. Inceptionr LLC raised its holdings in shares of Mid-America Apartment Communities by 7.3% in the fourth quarter. Inceptionr LLC now owns 13,280 shares of the real estate investment trust’s stock valued at $2,053,000 after buying an additional 906 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Mid-America Apartment Communities during the 4th quarter worth about $95,671,000. Arizona State Retirement System grew its holdings in Mid-America Apartment Communities by 1.4% during the 4th quarter. Arizona State Retirement System now owns 33,946 shares of the real estate investment trust’s stock worth $5,247,000 after acquiring an additional 475 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $10,035,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $166.31 on Friday. The stock’s fifty day simple moving average is $155.87 and its 200 day simple moving average is $157.21. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $19.44 billion, a PE ratio of 37.12, a PEG ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 12 month low of $123.73 and a 12 month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a $1.515 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.64%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is presently 135.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MAA shares. Evercore ISI upped their target price on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Wells Fargo & Company reduced their price objective on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. BMO Capital Markets decreased their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 21st. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research report on Tuesday, December 17th. Finally, Morgan Stanley upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $159.50 to $168.00 in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $167.00.

Mid-America Apartment Communities 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.