River Road Asset Management LLC Acquires Shares of 50,137 Mid-America Apartment Communities, Inc. (NYSE:MAA)

River Road Asset Management LLC acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,137 shares of the real estate investment trust’s stock, valued at approximately $6,741,000.

Several other institutional investors also recently bought and sold shares of MAA. Cullen Frost Bankers Inc. acquired a new stake in Mid-America Apartment Communities in the third quarter valued at approximately $35,000. First Financial Corp IN grew its holdings in Mid-America Apartment Communities by 40.8% in the fourth 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 during the period. CVA Family Office LLC acquired a new stake in Mid-America Apartment Communities in the fourth quarter valued at approximately $40,000. Emfo LLC acquired a new stake in Mid-America Apartment Communities in the fourth quarter valued at approximately $40,000. Finally, Quarry LP lifted its position in shares of Mid-America Apartment Communities by 186.5% in the first quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 179 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 2,807 shares of company stock valued at $353,955. 1.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. The Goldman Sachs Group restated a “buy” rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Morgan Stanley raised their target price 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. Scotiabank upgraded Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 target price on the stock. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $143.18.

Mid-America Apartment Communities Price Performance

MAA stock opened at $124.80 on Thursday. The business has a fifty day moving average of $128.88 and a two-hundred day moving average of $128.67. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data 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 net margin of 25.73% and a return on equity of 8.74%. The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. During the same period in the previous year, the firm posted $2.32 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.91 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.71%. Mid-America Apartment Communities’s payout ratio is presently 124.84%.

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.