First Manhattan CO. LLC. Has $1.79 Million Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

First Manhattan CO. LLC. reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,571 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. First Manhattan CO. LLC.’s holdings in Mid-America Apartment Communities were worth $1,789,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAA. Norges Bank acquired a new stake in Mid-America Apartment Communities in the 4th quarter worth $826,562,000. Capital World Investors grew its position in Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after buying an additional 2,088,143 shares in the last quarter. Deutsche Bank AG increased its stake in Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock valued at $189,507,000 after acquiring an additional 928,851 shares during the period. JPMorgan Chase & Co. raised its holdings in Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock valued at $517,015,000 after acquiring an additional 708,125 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $95,671,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Trading Up 0.8 %

Shares of Mid-America Apartment Communities stock opened at $162.96 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a 50-day moving average of $161.03 and a 200-day moving average of $157.83. Mid-America Apartment Communities, Inc. has a 52-week low of $126.77 and a 52-week high of $173.38. The stock has a market cap of $19.08 billion, a PE ratio of 36.38, a PEG ratio of 3.72 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. The business had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.22 earnings per share. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 3.72%. The ex-dividend date was Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 126.25%.

Insider Activity

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the transaction, the chief executive officer now owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Amber Fairbanks sold 173 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares of the company’s stock, valued at $502,552.20. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,313 shares of company stock worth $1,171,707. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on MAA shares. Robert W. Baird raised their target price on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada raised their price target on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. StockNews.com upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Wednesday, April 23rd. Finally, Truist Financial raised their target price on Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.00.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.