Bank of New York Mellon Corp Reduces Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of New York Mellon Corp lowered its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 779,170 shares of the real estate investment trust’s stock after selling 14,437 shares during the period. Bank of New York Mellon Corp owned about 0.67% of Mid-America Apartment Communities worth $130,573,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Mid-America Apartment Communities in the 4th quarter worth approximately $826,562,000. Capital World Investors lifted its stake in shares of Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock valued at $1,025,868,000 after buying an additional 2,088,143 shares in the last quarter. Deutsche Bank AG increased its holdings in Mid-America Apartment Communities by 312.6% in the 4th 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 last quarter. JPMorgan Chase & Co. increased 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 during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Mid-America Apartment Communities by 22,463.1% in the 1st quarter. GAMMA Investing LLC now owns 581,000 shares of the real estate investment trust’s stock valued at $97,364,000 after acquiring an additional 578,425 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $150.21 on Wednesday. Mid-America Apartment Communities, Inc. has a 1 year low of $137.51 and a 1 year high of $173.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 3.84 and a beta of 0.75. The business has a 50-day moving average of $154.43 and a 200-day moving average of $156.43.

Mid-America Apartment Communities (NYSE:MAA) last announced its 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 9.19% and a net margin of 25.70%. The company had revenue of $549.30 million for the quarter, compared to analysts’ expectations of $551.21 million. During the same quarter in the previous year, the firm earned $2.22 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 4.03%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 126.25%.

Analysts Set New Price Targets

MAA has been the topic of several analyst reports. Robert W. Baird upped their price target on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Barclays increased their target price on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Mizuho cut their price objective on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Finally, JMP Securities increased their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus price target of $169.76.

Insiders Place Their Bets

In related news, EVP Amber Fairbanks sold 173 shares of the firm’s stock in a transaction that occurred on 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 owned 3,012 shares of the company’s stock, valued at $502,552.20. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Company 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.