State of Alaska Department of Revenue Reduces Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

State of Alaska Department of Revenue reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,090 shares of the real estate investment trust’s stock after selling 4,254 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of Mid-America Apartment Communities worth $10,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MAA. First United Bank & Trust purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at about $27,000. Mather Group LLC. bought a new stake in Mid-America Apartment Communities during the first quarter valued at about $32,000. First Financial Corp IN lifted its position in shares of Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 86 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Mid-America Apartment Communities in the fourth quarter worth about $40,000. Finally, Emfo LLC purchased a new position in Mid-America Apartment Communities in the 4th quarter worth approximately $40,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Mid-America Apartment Communities Stock Down 1.1 %

Shares of MAA opened at $139.41 on Thursday. 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 firm has a market capitalization of $16.29 billion, a P/E ratio of 29.23, a P/E/G ratio of 3.14 and a beta of 0.85. The firm has a fifty day moving average price of $136.19 and a 200-day moving average price of $132.29. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $158.46.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm had revenue of $543.60 million for the quarter, compared to the consensus estimate of $541.44 million. During the same period in the previous year, the company posted $2.28 EPS. Mid-America Apartment Communities’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MAA. Scotiabank lifted 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. Mizuho lifted their target price on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Thursday, June 13th. Wedbush raised Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $135.00 to $154.00 in a report on Monday, May 6th. Finally, Truist Financial raised their target price on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the company a “buy” rating in a report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $142.44.

Mid-America Apartment Communities Company 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.