Principal Financial Group Inc. Sells 5,046 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Principal Financial Group Inc. reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,604 shares of the real estate investment trust’s stock after selling 5,046 shares during the period. Principal Financial Group Inc.’s holdings in Mid-America Apartment Communities were worth $21,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $26,000. Selway Asset Management bought a new stake in Mid-America Apartment Communities in the third quarter valued at approximately $31,000. Fiduciary Alliance LLC bought a new stake in Mid-America Apartment Communities in the fourth quarter valued at approximately $31,000. Guardian Wealth Advisors LLC bought a new stake in Mid-America Apartment Communities in the third quarter valued at approximately $33,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Mid-America Apartment Communities by 362.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 231 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 181 shares during the last quarter. 91.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MAA has been the topic of several analyst reports. 888 reiterated a “maintains” rating on shares of Mid-America Apartment Communities in a report on Friday, April 28th. Barclays upped their target price on Mid-America Apartment Communities from $185.00 to $192.00 and gave the company an “overweight” rating in a report on Wednesday, March 1st. Truist Financial reduced their target price on Mid-America Apartment Communities from $178.00 to $159.00 and set a “hold” rating on the stock in a report on Monday, March 27th. The Goldman Sachs Group reduced their target price on Mid-America Apartment Communities from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Finally, JMP Securities boosted their price target on Mid-America Apartment Communities from $180.00 to $190.00 and gave the company a “market outperform” rating in a research note on Friday, February 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $169.30.

Insider Transactions at Mid-America Apartment Communities

In related news, EVP Melanie Carpenter sold 480 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $150.21, for a total value of $72,100.80. Following the completion of the sale, the executive vice president now directly owns 16,669 shares of the company’s stock, valued at approximately $2,503,850.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.33% of the stock is owned by insiders.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $148.18 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.69. Mid-America Apartment Communities, Inc. has a twelve month low of $138.68 and a twelve month high of $190.17. The stock’s 50 day moving average is $149.06 and its 200-day moving average is $156.55. The firm has a market capitalization of $17.29 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 8.11 and a beta of 0.77.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, July 13th. Mid-America Apartment Communities’s payout ratio is 98.25%.

About Mid-America Apartment Communities

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Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.