Truist Financial Corp Reduces Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Truist Financial Corp lowered its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 29,638 shares of the real estate investment trust’s stock after selling 195 shares during the period. Truist Financial Corp’s holdings in Mid-America Apartment Communities were worth $4,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MAA. Ashton Thomas Securities LLC purchased a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $25,000. Activest Wealth Management acquired a new position in Mid-America Apartment Communities in the third quarter valued at approximately $32,000. Catalyst Capital Advisors LLC purchased a new position in Mid-America Apartment Communities in the third quarter worth approximately $37,000. Quarry LP acquired a new stake in Mid-America Apartment Communities during the third quarter worth $45,000. Finally, UMB Bank n.a. raised its position in Mid-America Apartment Communities by 30.5% in the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 75 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MAA shares. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target for the company in a report on Tuesday, December 17th. Royal Bank of Canada increased their target price on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Morgan Stanley raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $159.50 to $168.00 in a research note on Friday, January 24th. Barclays increased their price objective on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Mid-America Apartment Communities Stock Up 0.4 %

MAA stock opened at $160.65 on Monday. The company’s 50 day moving average price is $153.29 and its 200 day moving average price is $156.25. The firm has a market capitalization of $18.78 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 3.72 and a beta of 0.91. Mid-America Apartment Communities, Inc. has a fifty-two week low of $123.23 and a fifty-two week high of $167.39. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a $1.515 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 dividend on an annualized basis and a yield of 3.77%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 135.27%.

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.