DnB Asset Management AS Reduces Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

DnB Asset Management AS lessened its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 1.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 15,534 shares of the real estate investment trust’s stock after selling 193 shares during the quarter. DnB Asset Management AS’s holdings in Mid-America Apartment Communities were worth $2,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tcwp LLC purchased a new position in Mid-America Apartment Communities during the 1st quarter worth approximately $29,000. Johnson Financial Group Inc. acquired a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at approximately $40,000. Corbenic Partners LLC purchased a new position in Mid-America Apartment Communities in the 1st quarter valued at approximately $51,000. GW&K Investment Management LLC increased its stake in Mid-America Apartment Communities by 124.4% in the 1st quarter. GW&K Investment Management LLC now owns 496 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 275 shares in the last quarter. Finally, Wunderlich Capital Managemnt purchased a new position in Mid-America Apartment Communities in the 4th quarter valued at approximately $115,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays raised their price target on Mid-America Apartment Communities from $211.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, September 15th. Piper Sandler reduced their target price on Mid-America Apartment Communities from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Credit Suisse Group began coverage on Mid-America Apartment Communities in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $195.00 price target on the stock. The Goldman Sachs Group boosted their price target on Mid-America Apartment Communities from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. Finally, Citigroup boosted their price objective on Mid-America Apartment Communities to $190.00 in a report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.86.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 1,355 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $186.27, for a total value of $252,395.85. Following the transaction, the executive vice president now directly owns 17,953 shares of the company’s stock, valued at $3,344,105.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.34% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Stock Down 3.1 %

MAA stock opened at $159.97 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.39 and a quick ratio of 0.39. The company has a 50-day moving average of $174.67 and a two-hundred day moving average of $184.30. Mid-America Apartment Communities, Inc. has a 52-week low of $158.73 and a 52-week high of $231.63. The stock has a market capitalization of $18.47 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 9.97 and a beta of 0.76.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last released its earnings results 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 previous year, the business posted $1.69 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.28 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

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

About Mid-America Apartment Communities

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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.

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

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