Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System trimmed its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,722 shares of the real estate investment trust’s stock after selling 10,300 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of Mid-America Apartment Communities worth $17,461,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in shares of Mid-America Apartment Communities in the third quarter worth $35,000. ST Germain D J Co. Inc. bought a new position in shares of Mid-America Apartment Communities in the second quarter worth $36,000. Quarry LP grew its stake in shares of Mid-America Apartment Communities by 186.5% in the first quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 179 shares in the last quarter. Hibernia Wealth Partners LLC bought a new position in shares of Mid-America Apartment Communities in the third quarter worth $46,000. Finally, Lindbrook Capital LLC grew its stake in shares of Mid-America Apartment Communities by 36.1% in the third quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 106 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the transaction, the chief executive officer now owns 304,523 shares of the company’s stock, valued at $39,651,939.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Melanie Carpenter sold 371 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the company’s stock in a transaction dated 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. 1.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America cut Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $136.00 to $112.00 in a research note on Tuesday, October 31st. Colliers Securities raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Tuesday, November 28th. Morgan Stanley assumed coverage on Mid-America Apartment Communities in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $128.00 target price for the company. Piper Sandler cut Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $182.00 to $130.00 in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $145.26.

View Our Latest Stock Analysis on Mid-America Apartment Communities

Mid-America Apartment Communities Stock Up 0.0 %

Shares of Mid-America Apartment Communities stock opened at $124.52 on Monday. The stock has a 50-day moving average price of $131.47 and a 200 day moving average price of $132.62. The company 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. The company has a current ratio of 0.09, a quick ratio of 0.26 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $173.43.

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

Mid-America Apartment Communities Increases Dividend

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

Mid-America Apartment Communities Profile

(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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