B. Riley Wealth Advisors Inc. Sells 90 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

B. Riley Wealth Advisors Inc. cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,672 shares of the real estate investment trust’s stock after selling 90 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Mid-America Apartment Communities were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MAA. Norges Bank bought a new position in Mid-America Apartment Communities in the 4th quarter valued at $713,500,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Mid-America Apartment Communities by 188.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after purchasing an additional 949,171 shares during the period. Blackstone Inc. lifted its stake in shares of Mid-America Apartment Communities by 51.8% in the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after purchasing an additional 697,200 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Mid-America Apartment Communities by 96.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock valued at $164,085,000 after purchasing an additional 600,547 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Mid-America Apartment Communities by 103.1% in the 4th quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock valued at $138,499,000 after purchasing an additional 522,851 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MAA has been the topic of a number of analyst reports. Mizuho increased their price target on Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. UBS Group increased their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Thursday, June 13th. Scotiabank increased their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Truist Financial raised their price objective on Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $142.44.

Mid-America Apartment Communities Stock Up 1.0 %

Shares of MAA stock opened at $140.54 on Friday. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $158.46. The stock has a market cap of $16.42 billion, a P/E ratio of 29.46, a P/E/G ratio of 3.14 and a beta of 0.84. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74. The company has a 50 day simple moving average of $135.10 and a two-hundred day simple moving average of $132.04.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $2.28 earnings per share. On average, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 annualized dividend and a dividend yield of 4.18%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

About Mid-America Apartment Communities

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.