Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,013 shares of the real estate investment trust’s stock after selling 665 shares during the period. Retirement Systems of Alabama’s holdings in Mid-America Apartment Communities were worth $12,910,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. HHM Wealth Advisors LLC raised its position in shares of Mid-America Apartment Communities by 7.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 5,594 shares of the real estate investment trust’s stock valued at $752,000 after buying an additional 395 shares during the last quarter. Delta Investment Management LLC acquired a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $870,000. Truist Financial Corp raised its position in shares of Mid-America Apartment Communities by 0.7% in the fourth quarter. Truist Financial Corp now owns 45,577 shares of the real estate investment trust’s stock valued at $6,128,000 after buying an additional 332 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Mid-America Apartment Communities by 8.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 56,883 shares of the real estate investment trust’s stock valued at $7,648,000 after buying an additional 4,628 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Mid-America Apartment Communities by 11.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,106 shares of the real estate investment trust’s stock valued at $418,000 after buying an additional 318 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 0.5 %

MAA opened at $130.62 on Thursday. The stock has a market capitalization of $15.25 billion, a PE ratio of 27.73, a P/E/G ratio of 2.92 and a beta of 0.80. The firm’s fifty day moving average price is $129.17 and its 200 day moving average price is $128.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last posted 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 return on equity of 8.74% and a net margin of 25.73%. The business had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. During the same quarter in the previous year, the business posted $2.32 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.50%. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Insider Transactions at Mid-America Apartment Communities

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 value of $333,076.94. Following the transaction, the chief executive officer now directly 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 available at this link. In the last three months, insiders have sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Wedbush reiterated a “neutral” rating and set a $135.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 price objective for the company. Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Finally, Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $133.00 to $147.00 in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $143.06.

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.