Requisite Capital Management LLC Increases Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Requisite Capital Management LLC increased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,243 shares of the real estate investment trust’s stock after purchasing an additional 187 shares during the quarter. Requisite Capital Management LLC’s holdings in Mid-America Apartment Communities were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Naviter Wealth LLC boosted its stake in Mid-America Apartment Communities by 26.0% during the 1st quarter. Naviter Wealth LLC now owns 9,113 shares of the real estate investment trust’s stock valued at $1,199,000 after acquiring an additional 1,883 shares during the last quarter. State of Michigan Retirement System boosted its stake in Mid-America Apartment Communities by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 33,599 shares of the real estate investment trust’s stock valued at $4,421,000 after acquiring an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Mid-America Apartment Communities by 1,117.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 122,471 shares of the real estate investment trust’s stock valued at $16,115,000 after acquiring an additional 112,411 shares during the last quarter. Diversified Trust Co boosted its stake in Mid-America Apartment Communities by 5.8% during the 1st quarter. Diversified Trust Co now owns 3,259 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 180 shares during the last quarter. Finally, Red Door Wealth Management LLC boosted its stake in Mid-America Apartment Communities by 0.4% during the 1st quarter. Red Door Wealth Management LLC now owns 76,814 shares of the real estate investment trust’s stock valued at $10,107,000 after acquiring an additional 277 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were 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 owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 2,807 shares of company stock worth $353,955. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of 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. Mizuho increased their price objective on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Scotiabank increased their price objective on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Wedbush raised shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $135.00 to $154.00 in a report on Monday, May 6th. Finally, Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Thursday, June 13th. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $142.44.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock traded down $0.21 during trading hours on Tuesday, hitting $140.97. 518,405 shares of the company traded hands, compared to its average volume of 791,560. The firm has a market cap of $16.47 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.17 and a beta of 0.85. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The firm’s 50-day simple moving average is $135.97 and its two-hundred day simple moving average is $132.24. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $543.60 million for the quarter, compared to the consensus estimate of $541.44 million. During the same quarter last year, the business posted $2.28 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a dividend of $1.47 per share. The ex-dividend date is Monday, July 15th. This represents a $5.88 annualized dividend and a dividend yield of 4.17%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 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.