Nuveen Asset Management LLC Lowers Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)
Nuveen Asset Management LLC trimmed its position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 14.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 861,194 shares of the real estate investment trust’s stock after selling 150,036 shares during the quarter. Nuveen Asset Management LLC owned about 0.74% of Mid-America Apartment Communities worth $130,781,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its stake in shares of Mid-America Apartment Communities by 21.1% in the second quarter. Raleigh Capital Management Inc. now owns 379 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 66 shares in the last quarter. Summit X LLC increased its stake in Mid-America Apartment Communities by 3.4% in the 2nd quarter. Summit X LLC now owns 2,135 shares of the real estate investment trust’s stock worth $324,000 after buying an additional 70 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its holdings in Mid-America Apartment Communities by 3.8% during the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 1,910 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 70 shares during the period. Cooper Financial Group raised its holdings in Mid-America Apartment Communities by 3.8% during the second quarter. Cooper Financial Group now owns 2,181 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 80 shares during the period. Finally, Pathstone Family Office LLC lifted its position in shares of Mid-America Apartment Communities by 2.4% in the third quarter. Pathstone Family Office LLC now owns 3,425 shares of the real estate investment trust’s stock valued at $531,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.
Insider Transactions at Mid-America Apartment Communities
In other news, Director William Reid Sanders purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was purchased at an average price of $115.74 per share, for a total transaction of $231,480.00. Following the completion of the acquisition, the director now owns 28,627 shares of the company’s stock, valued at $3,313,288.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.33% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Mizuho cut their target price on Mid-America Apartment Communities from $159.00 to $133.00 and set a “neutral” rating for the company in a research report on Tuesday, September 26th. Colliers Securities upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 price objective on the stock in a research report on Tuesday, November 28th. Citigroup lowered their target price on shares of Mid-America Apartment Communities from $175.00 to $159.00 and set a “neutral” rating on the stock in a report on Tuesday, August 22nd. Wedbush started coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, October 3rd. They set a “neutral” rating and a $137.00 target price for the company. Finally, Piper Sandler cut shares of Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $182.00 to $130.00 in a research note on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $154.44.
View Our Latest Research Report on MAA
Mid-America Apartment Communities Trading Up 0.5 %
Shares of NYSE MAA opened at $127.13 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.26 and a current ratio of 0.26. The business’s 50 day moving average price is $125.38 and its 200-day moving average price is $139.31. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $176.36. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 7.35 and a beta of 0.81.
Mid-America Apartment Communities Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $5.60 dividend on an annualized basis and a yield of 4.40%. Mid-America Apartment Communities’s dividend payout ratio is currently 111.78%.
Mid-America Apartment Communities Company Profile (Free Report)
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.
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