Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 68.3% during the 1st quarter, Holdings Channel reports. The firm owned 75,468 shares of the real estate investment trust’s stock after selling 162,512 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mid-America Apartment Communities were worth $12,639,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth approximately $826,562,000. Capital World Investors boosted its stake in shares of Mid-America Apartment Communities by 45.9% in the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after acquiring an additional 2,088,143 shares during the last quarter. Deutsche Bank AG lifted its position in Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock worth $189,507,000 after buying an additional 928,851 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Mid-America Apartment Communities by 26.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock worth $517,015,000 after buying an additional 708,125 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Mid-America Apartment Communities during the fourth quarter worth approximately $95,671,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president directly owned 3,012 shares of the company’s stock, valued at approximately $502,552.20. This represents a 5.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,861 shares of company stock valued at $431,607. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

MAA has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and lifted their target price for the company from $148.00 to $190.00 in a research report on Monday, March 10th. JMP Securities lifted their target price on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a “market outperform” rating in a research report on Thursday, May 22nd. Barclays lifted their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Finally, Mizuho dropped their price objective on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average price target of $169.76.

Mid-America Apartment Communities Trading Up 0.8%

MAA opened at $150.47 on Friday. Mid-America Apartment Communities, Inc. has a 12 month low of $137.51 and a 12 month high of $173.38. The stock 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. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The business has a fifty day moving average price of $154.96 and a 200 day moving average price of $156.45.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data 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 firm had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 EPS. Sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

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

About Mid-America Apartment Communities

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.