Amalgamated Bank Grows Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Amalgamated Bank lifted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,207 shares of the real estate investment trust’s stock after buying an additional 279 shares during the quarter. Amalgamated Bank’s holdings in Mid-America Apartment Communities were worth $3,889,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MAA. IFP Advisors Inc increased its holdings in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 68 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Mid-America Apartment Communities by 91.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 956 shares of the real estate investment trust’s stock valued at $146,000 after acquiring an additional 457 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Mid-America Apartment Communities by 21.9% in the 4th quarter. Jones Financial Companies Lllp now owns 590 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 106 shares during the last quarter. State of Michigan Retirement System increased its holdings in Mid-America Apartment Communities by 2.3% in the 4th quarter. State of Michigan Retirement System now owns 35,299 shares of the real estate investment trust’s stock valued at $5,456,000 after acquiring an additional 800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Mid-America Apartment Communities by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,389,113 shares of the real estate investment trust’s stock valued at $214,715,000 after acquiring an additional 33,528 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JMP Securities lifted their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, May 22nd. Robert W. Baird lifted their price target on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Raymond James Financial downgraded shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Finally, Mizuho reduced their target price on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.76.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA opened at $150.47 on Friday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 3.82 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 12 month low of $137.51 and a 12 month high of $173.38. The firm’s 50-day moving average is $154.96 and its 200 day moving average is $156.45. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.82.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate of $2.16 by $0.04. The company had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.22 EPS. Research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.03%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 126.25%.

Insider Activity

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the sale, the chief executive officer directly owned 319,813 shares of the company’s stock, valued at $47,949,563.09. The trade was a 0.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president directly owned 3,012 shares of the company’s stock, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,861 shares of company stock valued at $431,607. 1.20% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.