Mid-America Apartment Communities, Inc. (NYSE:MAA) Position Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,310 shares of the real estate investment trust’s stock after purchasing an additional 2,397 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mid-America Apartment Communities were worth $1,521,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. First United Bank & Trust acquired a new position in Mid-America Apartment Communities during the fourth quarter worth about $27,000. First Financial Corp IN grew its stake in shares of Mid-America Apartment Communities by 40.8% in the 4th 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 during the last quarter. CVA Family Office LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $40,000. Emfo LLC acquired a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Mid-America Apartment Communities by 53.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 378 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 132 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MAA shares. Wedbush raised Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and upped their price target for the company from $135.00 to $154.00 in a report on Monday, May 6th. Wells Fargo & Company upped their target price on Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Truist Financial dropped their price target on 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. Scotiabank upped their price objective on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Mizuho lifted their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average price target of $141.97.

Mid-America Apartment Communities Stock Up 0.5 %

Shares of Mid-America Apartment Communities stock opened at $140.96 on Friday. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 3.12 and a beta of 0.84. The stock has a 50-day simple moving average of $133.81 and a 200-day simple moving average of $131.68. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-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.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results 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 net margin of 25.92% and a return on equity of 8.90%. The business had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. During the same quarter last year, the firm earned $2.28 earnings per share. Mid-America Apartment Communities’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

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

Insider Buying and Selling 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 transaction of $333,076.94. Following the completion of the sale, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 2,807 shares of company stock worth $353,955 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Company 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.