CPC Advisors LLC trimmed its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 59.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,710 shares of the real estate investment trust’s stock after selling 5,345 shares during the period. CPC Advisors LLC’s holdings in Mid-America Apartment Communities were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of MAA. Viking Global Investors LP bought a new position in Mid-America Apartment Communities during the third quarter valued at $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Mid-America Apartment Communities by 621.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock valued at $168,805,000 after purchasing an additional 1,040,525 shares during the period. Balyasny Asset Management L.P. bought a new position in Mid-America Apartment Communities during the second quarter valued at $54,314,000. UBS Group AG grew its holdings in Mid-America Apartment Communities by 65.7% during the third quarter. UBS Group AG now owns 712,167 shares of the real estate investment trust’s stock valued at $99,511,000 after purchasing an additional 282,278 shares during the period. Finally, Invesco Ltd. grew its holdings in Mid-America Apartment Communities by 10.0% during the third quarter. Invesco Ltd. now owns 2,019,861 shares of the real estate investment trust’s stock valued at $282,235,000 after purchasing an additional 184,453 shares during the period. 93.60% of the stock is owned by institutional investors.
Mid-America Apartment Communities Trading Down 1.0%
NYSE:MAA opened at $124.52 on Thursday. The company has a market cap of $14.56 billion, a P/E ratio of 32.94 and a beta of 0.80. The stock’s fifty day moving average price is $128.25 and its two-hundred day moving average price is $131.88. Mid-America Apartment Communities, Inc. has a 1 year low of $120.30 and a 1 year high of $169.00. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.10 and a quick ratio of 0.10.
Mid-America Apartment Communities Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be given a dividend of $1.53 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.9%. Mid-America Apartment Communities’s dividend payout ratio is currently 161.90%.
Insider Activity
In related news, EVP Amber Fairbanks sold 711 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $124.73, for a total value of $88,683.03. Following the sale, the executive vice president owned 4,471 shares in the company, valued at approximately $557,667.83. This trade represents a 13.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,039 shares of company stock valued at $129,594 in the last quarter. Company insiders own 1.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on MAA. Wall Street Zen raised Mid-America Apartment Communities from a “strong sell” rating to a “sell” rating in a report on Sunday, April 12th. Morgan Stanley reduced their price objective on Mid-America Apartment Communities from $164.00 to $156.00 and set an “overweight” rating for the company in a report on Monday, March 16th. KeyCorp reduced their price objective on Mid-America Apartment Communities from $170.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, February 11th. Scotiabank reduced their price objective on Mid-America Apartment Communities from $140.00 to $138.00 and set a “sector perform” rating for the company in a report on Monday, March 23rd. Finally, Barclays dropped their target price on Mid-America Apartment Communities from $144.00 to $138.00 and set an “equal weight” rating on the stock in a research report on Friday, March 6th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $149.74.
View Our Latest Stock Report on MAA
Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
Featured Articles
Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.
