American International Group Inc. Decreases Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

American International Group Inc. lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,593 shares of the real estate investment trust’s stock after selling 276 shares during the quarter. American International Group Inc.’s holdings in Mid-America Apartment Communities were worth $4,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MAA. Nordea Investment Management AB grew its stake in shares of Mid-America Apartment Communities by 9.2% during the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after purchasing an additional 13,045 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Mid-America Apartment Communities by 163.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 13,474 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Mid-America Apartment Communities by 159.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 16,144 shares during the last quarter. Columbus Macro LLC bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $1,280,000. Finally, abrdn plc increased its holdings in Mid-America Apartment Communities by 25.4% during the fourth quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock valued at $11,502,000 after buying an additional 17,339 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MAA shares. UBS Group boosted their price objective on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a research report on Tuesday, May 14th. Mizuho boosted their price target 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 reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Wedbush raised Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $135.00 to $154.00 in a research report on Monday, May 6th. Finally, Truist Financial reduced their target price on shares of 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $141.97.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 2,807 shares of company stock worth $353,955 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $140.96 on Monday. The firm has a market capitalization of $16.47 billion, a PE ratio of 29.55, a PEG ratio of 3.12 and a beta of 0.84. The stock’s fifty day moving average is $133.81 and its 200 day moving average is $131.72. 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 quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. During the same period in the prior year, the company posted $2.28 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

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

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.