Red Door Wealth Management LLC Acquires 277 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Red Door Wealth Management LLC lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 76,814 shares of the real estate investment trust’s stock after purchasing an additional 277 shares during the period. Mid-America Apartment Communities accounts for about 1.9% of Red Door Wealth Management LLC’s portfolio, making the stock its 11th largest position. Red Door Wealth Management LLC owned 0.07% of Mid-America Apartment Communities worth $10,107,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MAA. First United Bank & Trust bought a new position in Mid-America Apartment Communities in the fourth quarter valued at about $27,000. Mather Group LLC. bought a new position in Mid-America Apartment Communities in the first quarter valued at about $32,000. First Financial Corp IN boosted 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 acquiring an additional 86 shares during the last quarter. CVA Family Office LLC bought a new position in Mid-America Apartment Communities in the fourth quarter valued at about $40,000. Finally, Emfo LLC bought a new position in Mid-America Apartment Communities in the fourth quarter valued at about $40,000. Institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MAA. Scotiabank raised their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Mizuho raised their target price on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Morgan Stanley raised their target price on Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 15th. Piper Sandler restated a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Finally, Wells Fargo & Company raised their target price on Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $142.44.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, 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 Stock Up 1.5 %

Shares of NYSE:MAA traded up $2.07 during trading on Friday, hitting $142.61. 844,915 shares of the company’s stock traded hands, compared to its average volume of 584,861. The company has a 50-day moving average price of $135.43 and a 200-day moving average price of $132.18. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The firm had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. During the same period in the prior year, the business posted $2.28 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Mid-America Apartment Communities 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.