Massmutual Trust Co. FSB ADV Sells 3,982 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Massmutual Trust Co. FSB ADV reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 88.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 495 shares of the real estate investment trust’s stock after selling 3,982 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Mid-America Apartment Communities were worth $65,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First United Bank & Trust bought a new stake in Mid-America Apartment Communities in the fourth quarter worth approximately $27,000. Mather Group LLC. bought a new stake in Mid-America Apartment Communities in the first quarter worth approximately $32,000. CVA Family Office LLC bought a new stake in Mid-America Apartment Communities in the fourth quarter worth approximately $40,000. First Financial Corp IN increased its holdings in Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 86 shares in the last quarter. Finally, Emfo LLC bought a new stake in Mid-America Apartment Communities in the fourth quarter worth approximately $40,000. 93.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on MAA shares. Mizuho boosted their price objective on Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Piper Sandler restated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Morgan Stanley boosted their price objective on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a report on Wednesday, May 15th. Wedbush upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $154.00 in a report on Monday, May 6th. Finally, UBS Group boosted their price objective on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and a consensus price target of $141.97.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $140.96 on Friday. The stock’s 50-day simple moving average is $133.81 and its two-hundred day simple moving average is $131.65. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $16.47 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.12 and a beta of 0.84.

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

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a $1.47 dividend. 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 payout ratio is currently 123.27%.

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.