Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock Position Lowered by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lessened its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 79.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 409 shares of the real estate investment trust’s stock after selling 1,536 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAA. Cullen Frost Bankers Inc. bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth $35,000. First Financial Corp IN raised its stake in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 86 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth $40,000. Emfo LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth $40,000. Finally, Quarry LP raised its stake in shares of Mid-America Apartment Communities by 186.5% in the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 179 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MAA. Morgan Stanley lifted their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Mizuho decreased their target price on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Finally, Truist Financial decreased their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $143.18.

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 on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 2,807 shares of company stock valued at $353,955. Insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $126.08 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $14.72 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.80 and a beta of 0.80. The stock’s fifty day simple moving average is $128.92 and its 200-day simple moving average is $128.63.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data 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). The firm had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. Mid-America Apartment Communities’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.32 EPS. On average, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.66%. Mid-America Apartment Communities’s payout ratio is 124.84%.

About Mid-America Apartment Communities

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.