Mid-America Apartment Communities, Inc. (NYSE:MAA) Holdings Cut by Highland Capital Management LLC

Highland Capital Management LLC decreased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,630 shares of the real estate investment trust’s stock after selling 168 shares during the quarter. Highland Capital Management LLC’s holdings in Mid-America Apartment Communities were worth $459,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. American International Group Inc. grew its stake in Mid-America Apartment Communities by 0.3% in the 4th quarter. American International Group Inc. now owns 34,728 shares of the real estate investment trust’s stock valued at $7,968,000 after buying an additional 89 shares during the last quarter. Clark Capital Management Group Inc. acquired a new position in Mid-America Apartment Communities in the 4th quarter valued at $269,000. Nissay Asset Management Corp Japan ADV grew its stake in Mid-America Apartment Communities by 6.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 23,276 shares of the real estate investment trust’s stock valued at $5,340,000 after buying an additional 1,323 shares during the last quarter. Blair William & Co. IL grew its position in Mid-America Apartment Communities by 5.6% in the 4th quarter. Blair William & Co. IL now owns 3,118 shares of the real estate investment trust’s stock worth $715,000 after purchasing an additional 164 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Mid-America Apartment Communities by 8.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 343,131 shares of the real estate investment trust’s stock worth $78,728,000 after purchasing an additional 26,157 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Mid-America Apartment Communities Stock Up 0.7 %

Shares of NYSE:MAA opened at $158.82 on Friday. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 9.52 and a beta of 0.76. The company has a 50 day moving average of $174.32 and a 200-day moving average of $183.75. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.39 and a quick ratio of 0.39. Mid-America Apartment Communities, Inc. has a one year low of $155.38 and a one year high of $231.63.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.18). The firm had revenue of $495.04 million for the quarter, compared to analyst estimates of $488.64 million. Mid-America Apartment Communities had a net margin of 31.30% and a return on equity of 10.01%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.69 EPS. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.28 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a dividend, which was paid on Monday, July 25th. Shareholders of record on Friday, July 15th were paid a $1.25 dividend. This represents a yield of 2.85%. The ex-dividend date of this dividend was Thursday, July 14th. Mid-America Apartment Communities’s payout ratio is currently 98.04%.

Analysts Set New Price Targets

Several analysts have issued reports on MAA shares. Mizuho decreased their price target on shares of Mid-America Apartment Communities from $178.00 to $177.00 and set a “neutral” rating on the stock in a research report on Monday. Piper Sandler decreased their price target on shares of Mid-America Apartment Communities from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Barclays raised their price target on shares of Mid-America Apartment Communities from $211.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, September 15th. Jefferies Financial Group reduced their price objective on shares of Mid-America Apartment Communities from $212.00 to $201.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Finally, Raymond James reaffirmed a “downgrade” rating on shares of Mid-America Apartment Communities in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.86.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 1,355 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $186.27, for a total value of $252,395.85. Following the transaction, the executive vice president now owns 17,953 shares of the company’s stock, valued at $3,344,105.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.34% of the company’s stock.

Mid-America Apartment Communities Profile

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MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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