Wesbanco Bank Inc. Sells 118 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wesbanco Bank Inc. reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,756 shares of the real estate investment trust’s stock after selling 118 shares during the period. Wesbanco Bank Inc.’s holdings in Mid-America Apartment Communities were worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAA. CoreCap Advisors LLC grew its holdings in shares of Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 112 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 68 shares during the last quarter. GoalVest Advisory LLC grew its holdings in shares of Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 160 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $46,000. Finally, NBC Securities Inc. bought a new stake in shares of Mid-America Apartment Communities during the first quarter worth about $46,000. 93.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on MAA shares. JMP Securities boosted their price target on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, May 22nd. Mizuho reduced their target price on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Evercore ISI upped their target price on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their target price for the company from $148.00 to $190.00 in a report on Monday, March 10th. Finally, Raymond James cut Mid-America Apartment Communities from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $185.00 to $175.00 in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.50.

Insider Transactions at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares of the company’s stock, valued at approximately $502,552.20. This represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the sale, the chief executive officer now directly owns 319,813 shares of the company’s stock, valued at $47,949,563.09. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,313 shares of company stock valued at $1,171,707 over the last ninety days. 1.20% of the stock is owned by company insiders.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $150.99 on Tuesday. Mid-America Apartment Communities, Inc. has a 52-week low of $136.57 and a 52-week high of $173.38. 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 business’s 50 day moving average price is $157.39 and its two-hundred day moving average price is $157.85. The firm has a market cap of $17.67 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 3.72 and a beta of 0.78.

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, beating the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The firm had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same period in the previous year, the firm earned $2.22 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities’s payout ratio is 126.25%.

About Mid-America Apartment Communities

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.