Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,993 shares of the real estate investment trust’s stock after selling 131 shares during the period. NewEdge Wealth LLC’s holdings in Mid-America Apartment Communities were worth $268,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its stake in Mid-America Apartment Communities by 228.2% during the 1st quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock valued at $834,000 after purchasing an additional 2,770 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Mid-America Apartment Communities by 62.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock valued at $1,078,000 after purchasing an additional 1,974 shares during the period. Cetera Advisor Networks LLC boosted its stake in Mid-America Apartment Communities by 22.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 325 shares during the period. Acadian Asset Management LLC acquired a new position in Mid-America Apartment Communities during the 1st quarter valued at about $393,000. Finally, Sei Investments Co. boosted its stake in Mid-America Apartment Communities by 7.5% during the 1st quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock valued at $10,619,000 after purchasing an additional 3,544 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on MAA. Royal Bank of Canada reissued a “sector perform” rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $133.00 to $147.00 in a research note on Tuesday, January 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $143.18.

Mid-America Apartment Communities Stock Down 0.1 %

NYSE MAA opened at $124.62 on Friday. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $158.46. The company’s 50 day simple moving average is $128.88 and its 200 day simple moving average is $128.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $14.55 billion, a P/E ratio of 26.46, a PEG ratio of 2.78 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $542.64 million. During the same quarter in the prior year, the firm earned $2.32 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.91 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.72%. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 2,807 shares of company stock worth $353,955 over the last 90 days. 1.33% of the stock is owned by company insiders.

Mid-America Apartment Communities Company 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.