APG Asset Management US Inc. Sells 48,447 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

APG Asset Management US Inc. lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,934,500 shares of the real estate investment trust’s stock after selling 48,447 shares during the quarter. Mid-America Apartment Communities makes up 2.3% of APG Asset Management US Inc.’s portfolio, making the stock its 13th biggest position. APG Asset Management US Inc. owned 2.51% of Mid-America Apartment Communities worth $394,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAA. Raleigh Capital Management Inc. grew its stake in Mid-America Apartment Communities by 22.2% in the third quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 84 shares during the period. First Financial Corp IN grew its stake in Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 86 shares during the period. Blue Trust Inc. grew its stake in Mid-America Apartment Communities by 22.8% in the fourth quarter. Blue Trust Inc. now owns 511 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 95 shares during the period. Oakworth Capital Inc. grew its stake in Mid-America Apartment Communities by 0.6% in the fourth quarter. Oakworth Capital Inc. now owns 15,212 shares of the real estate investment trust’s stock worth $2,045,000 after purchasing an additional 98 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Mid-America Apartment Communities by 3.4% in the fourth quarter. Diversified Trust Co now owns 3,079 shares of the real estate investment trust’s stock worth $414,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

NYSE MAA traded up $1.19 during trading on Monday, hitting $134.90. 83,744 shares of the stock traded hands, compared to its average volume of 829,101. The company has a market capitalization of $15.76 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.84. The firm has a 50-day simple moving average of $131.38 and a 200-day simple moving average of $130.18. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. 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:MAAGet Free Report) last released its quarterly earnings results 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). The firm had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.28 EPS. As a group, analysts predict that Mid-America Apartment Communities, Inc. will post 8.87 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Analyst Ratings Changes

A number of research firms have recently commented on MAA. Mizuho increased their target price on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Wedbush raised Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $154.00 in a research report on Monday, May 6th. Finally, Piper Sandler reissued a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.47.

Check Out Our Latest Stock Report on Mid-America Apartment Communities

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Profile

(Free Report)

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.

Further Reading

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

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