DNB Asset Management AS Has $3.29 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

DNB Asset Management AS decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 1.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 15,727 shares of the real estate investment trust’s stock after selling 199 shares during the period. DNB Asset Management AS’s holdings in Mid-America Apartment Communities were worth $3,294,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MAA. Man Group plc bought a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $840,000. MML Investors Services LLC lifted its position in Mid-America Apartment Communities by 28.4% in the 3rd quarter. MML Investors Services LLC now owns 4,135 shares of the real estate investment trust’s stock valued at $772,000 after acquiring an additional 915 shares in the last quarter. United Capital Financial Advisers LLC lifted its position in Mid-America Apartment Communities by 183.6% in the 3rd quarter. United Capital Financial Advisers LLC now owns 7,295 shares of the real estate investment trust’s stock valued at $1,362,000 after acquiring an additional 4,723 shares in the last quarter. UBS Group AG lifted its position in Mid-America Apartment Communities by 37.5% in the 3rd quarter. UBS Group AG now owns 270,103 shares of the real estate investment trust’s stock valued at $50,442,000 after acquiring an additional 73,711 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $1,382,000. 93.06% of the stock is owned by institutional investors.

In related news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $202.50, for a total value of $4,050,000.00. Following the transaction, the chief operating officer now owns 44,983 shares in the company, valued at approximately $9,109,057.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.34% of the stock is currently owned by corporate insiders.

Several equities research analysts recently commented on MAA shares. Piper Sandler cut their price objective on shares of Mid-America Apartment Communities from $240.00 to $230.00 in a research report on Wednesday, May 4th. Scotiabank cut their price target on shares of Mid-America Apartment Communities from $231.00 to $226.00 in a research report on Thursday, May 19th. StockNews.com started coverage on shares of Mid-America Apartment Communities in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial cut their price target on shares of Mid-America Apartment Communities from $220.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. Finally, Barclays cut their price target on shares of Mid-America Apartment Communities from $238.00 to $211.00 in a research report on Tuesday, May 10th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $213.17.

Shares of MAA stock opened at $170.13 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.14 and a current ratio of 0.14. The firm’s 50-day moving average is $182.06 and its 200-day moving average is $201.63. The stock has a market cap of $19.64 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 10.02 and a beta of 0.74. Mid-America Apartment Communities, Inc. has a 52-week low of $158.85 and a 52-week high of $231.63.

Mid-America Apartment Communities (NYSE:MAA – Get Rating) last issued its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.13. Mid-America Apartment Communities had a net margin of 32.66% and a return on equity of 9.77%. During the same period in the previous year, the business posted $1.64 EPS. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 2.50%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 84.30%.

Mid-America Apartment Communities Profile (Get Rating)

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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