Strs Ohio Sells 59,100 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Strs Ohio lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,592 shares of the real estate investment trust’s stock after selling 59,100 shares during the quarter. Strs Ohio’s holdings in Mid-America Apartment Communities were worth $9,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $35,000. First Financial Corp IN increased its holdings in Mid-America Apartment Communities by 40.8% during the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 86 shares during the last quarter. CVA Family Office LLC bought a new stake in Mid-America Apartment Communities during the fourth quarter worth $40,000. Quarry LP lifted its stake in 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 valued at $42,000 after acquiring an additional 179 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of Mid-America Apartment Communities by 36.1% in the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 106 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 0.8 %

Shares of MAA opened at $124.80 on Thursday. The firm has a 50 day simple moving average of $128.88 and a two-hundred day simple moving average of $128.67. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. The company has a market cap of $14.57 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.78 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The business had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $2.32 EPS. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.91 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.84%.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,807 shares of company stock worth $353,955 in the last three months. 1.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research note on Monday, February 26th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Jefferies Financial Group reissued a “hold” rating and set a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Truist Financial cut their price target on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Mid-America Apartment Communities has an average rating of “Hold” and a consensus target price of $143.18.

About Mid-America Apartment Communities

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.