Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,712 shares of the real estate investment trust’s stock after selling 230 shares during the quarter. M&T Bank Corp’s holdings in Mid-America Apartment Communities were worth $1,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC raised its position in Mid-America Apartment Communities by 12.2% in the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after purchasing an additional 592,306 shares in the last quarter. Morgan Stanley lifted its stake in Mid-America Apartment Communities by 1.4% in the third quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock worth $301,695,000 after acquiring an additional 31,813 shares during the last quarter. Blackstone Inc. boosted its holdings in shares of Mid-America Apartment Communities by 51.8% in the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after buying an additional 697,200 shares in the last quarter. Northern Trust Corp grew its position in shares of Mid-America Apartment Communities by 5.7% in the 3rd quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock valued at $222,023,000 after buying an additional 93,020 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Mid-America Apartment Communities by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,014 shares of the real estate investment trust’s stock worth $161,072,000 after acquiring an additional 16,889 shares in the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $135.00 to $154.00 in a research report on Monday. The Goldman Sachs Group reiterated a “buy” rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Morgan Stanley lifted 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 report on Monday, February 26th. Finally, Mizuho decreased their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.18.

Mid-America Apartment Communities Trading Up 2.5 %

Shares of MAA stock opened at $136.34 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. The business’s fifty day moving average price is $130.31 and its 200 day moving average price is $128.67. The firm has a market capitalization of $15.93 billion, a PE ratio of 28.58, a P/E/G ratio of 3.41 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The company had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.91 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $1.47 per share. The ex-dividend date was Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.31%. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Profile

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.