Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,751,852 shares of the real estate investment trust’s stock after selling 183,034 shares during the quarter. Vanguard Group Inc. owned about 16.07% of Mid-America Apartment Communities worth $2,521,374,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. First United Bank & Trust acquired a new stake in Mid-America Apartment Communities in the fourth quarter worth $27,000. First Financial Corp IN increased its holdings in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 86 shares during the period. CVA Family Office LLC bought a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $40,000. Emfo LLC acquired a new position in Mid-America Apartment Communities during the 4th quarter valued at about $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in Mid-America Apartment Communities by 53.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 378 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the 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 transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 2,807 shares of company stock worth $353,955 in the last three months. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MAA. Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Scotiabank raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Thursday, June 13th. Truist Financial reduced their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, UBS Group upped their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $141.97.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $139.35 on Tuesday. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $16.28 billion, a PE ratio of 29.21, a PEG ratio of 3.10 and a beta of 0.84. The company’s 50 day moving average price is $133.11 and its 200 day moving average price is $131.32.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.28 earnings per share. Research analysts expect that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

Mid-America Apartment Communities 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.