First Hawaiian Bank Sells 125 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

First Hawaiian Bank decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,603 shares of the real estate investment trust’s stock after selling 125 shares during the quarter. First Hawaiian Bank’s holdings in Mid-America Apartment Communities were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MAA. Norges Bank bought a new stake in Mid-America Apartment Communities during the fourth quarter worth about $713,500,000. Massachusetts Financial Services Co. MA raised its position in Mid-America Apartment Communities by 188.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after purchasing an additional 949,171 shares during the last quarter. Blackstone Inc. boosted its stake in Mid-America Apartment Communities by 51.8% in the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after purchasing an additional 697,200 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Mid-America Apartment Communities by 96.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock worth $164,085,000 after purchasing an additional 600,547 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Mid-America Apartment Communities by 103.1% in the fourth quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock valued at $138,499,000 after buying an additional 522,851 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Thursday, June 13th. Truist Financial decreased their price target on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Wells Fargo & Company boosted their price objective on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Finally, Morgan Stanley lifted their target price on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $141.97.

Mid-America Apartment Communities Stock Up 0.5 %

Mid-America Apartment Communities stock opened at $140.96 on Friday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week 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 firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 3.12 and a beta of 0.84. The company’s 50 day simple moving average is $133.81 and its 200 day simple moving average is $131.65.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($1.01). The firm had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. Mid-America Apartment Communities’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $2.28 EPS. As a group, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Insider Activity

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 transaction of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,807 shares of company stock worth $353,955 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

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.