Amalgamated Bank Has $6.06 Million Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Amalgamated Bank lowered its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,914 shares of the real estate investment trust’s stock after selling 2,053 shares during the quarter. Amalgamated Bank’s holdings in Mid-America Apartment Communities were worth $6,056,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Mid-America Apartment Communities by 13.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,271 shares of the real estate investment trust’s stock valued at $4,455,000 after acquiring an additional 2,523 shares during the period. Phocas Financial Corp. increased its stake in Mid-America Apartment Communities by 3.1% in the 1st quarter. Phocas Financial Corp. now owns 7,577 shares of the real estate investment trust’s stock valued at $1,587,000 after buying an additional 229 shares during the period. Toroso Investments LLC increased its stake in Mid-America Apartment Communities by 28.7% in the 1st quarter. Toroso Investments LLC now owns 9,251 shares of the real estate investment trust’s stock valued at $1,938,000 after buying an additional 2,065 shares during the period. Wealthfront Advisers LLC increased its stake in Mid-America Apartment Communities by 90.3% in the 1st quarter. Wealthfront Advisers LLC now owns 15,903 shares of the real estate investment trust’s stock valued at $3,331,000 after buying an additional 7,547 shares during the period. Finally, Virtu Financial LLC increased its stake in Mid-America Apartment Communities by 317.8% in the 1st quarter. Virtu Financial LLC now owns 7,762 shares of the real estate investment trust’s stock valued at $1,626,000 after buying an additional 5,904 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MAA shares. The Goldman Sachs Group upped their price objective on shares of Mid-America Apartment Communities from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, August 16th. Mizuho dropped their price objective on shares of Mid-America Apartment Communities from $221.00 to $178.00 and set a “neutral” rating on the stock in a research note on Monday, June 27th. Credit Suisse Group initiated coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $195.00 price objective on the stock. Piper Sandler dropped their price target on shares of Mid-America Apartment Communities from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Finally, Truist Financial increased their price target on shares of Mid-America Apartment Communities from $188.00 to $198.00 in a research note on Wednesday, August 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.93.

Insider Activity

In other news, EVP Melanie Carpenter sold 1,355 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $186.27, for a total value of $252,395.85. Following the sale, the executive vice president now directly owns 17,953 shares in the company, valued at approximately $3,344,105.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.34% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $165.95 on Monday. Mid-America Apartment Communities, Inc. has a 12-month low of $158.85 and a 12-month high of $231.63. The firm has a market capitalization of $19.16 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 10.02 and a beta of 0.76. The firm has a 50-day moving average price of $174.95 and a 200 day moving average price of $184.82. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.73.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.18). Mid-America Apartment Communities had a net margin of 31.30% and a return on equity of 10.01%. The company had revenue of $495.04 million during the quarter, compared to the consensus estimate of $488.64 million. During the same quarter in the prior year, the company posted $1.69 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.28 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, July 25th. Stockholders of record on Friday, July 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a dividend yield of 2.85%. Mid-America Apartment Communities’s dividend payout ratio is currently 98.04%.

Mid-America Apartment Communities Company Profile

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MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

Further Reading

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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