Huntington National Bank Increases Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Huntington National Bank boosted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,234 shares of the real estate investment trust’s stock after acquiring an additional 118 shares during the quarter. Huntington National Bank’s holdings in Mid-America Apartment Communities were worth $416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Mid-America Apartment Communities by 4.9% during the 2nd quarter. BlackRock Inc. now owns 11,923,401 shares of the real estate investment trust’s stock valued at $1,810,688,000 after buying an additional 560,935 shares during the period. State Street Corp lifted its holdings in shares of Mid-America Apartment Communities by 1.0% during the 2nd quarter. State Street Corp now owns 7,648,431 shares of the real estate investment trust’s stock valued at $1,161,491,000 after buying an additional 74,662 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Mid-America Apartment Communities by 7.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,490,414 shares of the real estate investment trust’s stock valued at $530,054,000 after buying an additional 239,384 shares during the period. Norges Bank bought a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at $543,026,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Mid-America Apartment Communities by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,705,060 shares of the real estate investment trust’s stock valued at $409,812,000 after buying an additional 69,858 shares during the period. 93.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MAA has been the topic of several research analyst reports. Morgan Stanley started coverage on Mid-America Apartment Communities in a report on Tuesday, December 12th. They set an “equal weight” rating and a $128.00 price target on the stock. Truist Financial raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their target price for the stock from $154.00 to $158.00 in a report on Tuesday, January 16th. Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their target price for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $136.00 price target on shares of Mid-America Apartment Communities in a report on Friday. Finally, Colliers Securities raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 price target on the stock in a report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $145.26.

Get Our Latest Report on Mid-America Apartment Communities

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total transaction of $524,485.88. Following the completion of the transaction, the chief executive officer now owns 304,523 shares in the company, valued at $39,651,939.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the sale, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the sale, the chief executive officer now owns 304,523 shares of the company’s stock, valued at approximately $39,651,939.83. The disclosure for this sale can be found here. Company insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Trading Up 0.0 %

MAA opened at $124.52 on Friday. The firm has a market cap of $14.53 billion, a P/E ratio of 26.44, a P/E/G ratio of 4.70 and a beta of 0.81. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $173.43. The company has a current ratio of 0.09, a quick ratio of 0.26 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average of $131.47 and a 200 day moving average of $132.76.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.93). The company had revenue of $542.25 million during the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.32 EPS. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 9.05 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 12th were given a $1.47 dividend. The ex-dividend date was Thursday, January 11th. This represents a $5.88 annualized dividend and a yield of 4.72%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 124.84%.

About Mid-America Apartment Communities

(Free Report)

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.

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

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