New Age Alpha Advisors LLC Makes New $1.93 Million Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

New Age Alpha Advisors LLC bought a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, HoldingsChannel.com reports. The fund bought 12,459 shares of the real estate investment trust’s stock, valued at approximately $1,926,000.

A number of other institutional investors also recently modified their holdings of MAA. IFP Advisors Inc raised its position in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 68 shares during the last quarter. Quarry LP acquired a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at $45,000. UMB Bank n.a. increased its stake in shares of Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 75 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of Mid-America Apartment Communities by 57.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 133 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Mid-America Apartment Communities during the third quarter valued at $63,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $165.93 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market cap of $19.40 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 3.72 and a beta of 0.90. The business has a 50 day simple moving average of $159.61 and a 200 day simple moving average of $157.52. Mid-America Apartment Communities, Inc. has a 52-week low of $123.73 and a 52-week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.65%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 135.27%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MAA. Raymond James boosted their price objective on Mid-America Apartment Communities from $180.00 to $185.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 20th. Evercore ISI boosted their price target on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. BMO Capital Markets reduced their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company lowered their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $168.90.

About Mid-America Apartment Communities

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.