Kathmere Capital Management LLC Sells 108 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Kathmere Capital Management LLC cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,297 shares of the real estate investment trust’s stock after selling 108 shares during the period. Kathmere Capital Management LLC’s holdings in Mid-America Apartment Communities were worth $302,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Mid-America Apartment Communities during the 4th quarter valued at $713,500,000. Massachusetts Financial Services Co. MA boosted its position in Mid-America Apartment Communities by 188.9% during the fourth 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 in the last quarter. Blackstone Inc. grew 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 valued at $262,943,000 after purchasing an additional 697,200 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in Mid-America Apartment Communities by 96.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock valued at $164,085,000 after purchasing an additional 600,547 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Mid-America Apartment Communities by 103.1% during 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 during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Up 1.5 %

Mid-America Apartment Communities stock opened at $142.61 on Friday. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 3.13 and a beta of 0.84. The business’s 50-day moving average price is $135.43 and its 200 day moving average price is $132.18. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74.

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 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 for the quarter, compared to analysts’ expectations of $541.44 million. During the same period last year, the firm earned $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, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced 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 4.12%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

Analysts Set New Price Targets

MAA has been the subject of several recent analyst reports. Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday, June 13th. Truist Financial upped their price target on Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Piper Sandler restated a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. UBS Group increased their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Finally, Wells Fargo & Company upped their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $142.44.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities 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 transaction of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 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.