NewEdge Wealth LLC Sells 131 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

NewEdge Wealth LLC lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,993 shares of the real estate investment trust’s stock after selling 131 shares during the quarter. NewEdge Wealth LLC’s holdings in Mid-America Apartment Communities were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MAA. American Century Companies Inc. grew its holdings in Mid-America Apartment Communities by 228.2% during the 1st quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock worth $834,000 after acquiring an additional 2,770 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Mid-America Apartment Communities by 62.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock worth $1,078,000 after acquiring an additional 1,974 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in Mid-America Apartment Communities by 22.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 325 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter worth about $393,000. Finally, Sei Investments Co. grew its holdings in Mid-America Apartment Communities by 7.5% during the 1st quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock worth $10,619,000 after acquiring an additional 3,544 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho decreased their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 price target for the company. Truist Financial reduced their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Piper Sandler reiterated a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $136.00 price objective (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average target price of $143.18.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 2,807 shares of company stock valued at $353,955 over the last ninety days. 1.33% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $124.62 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average price is $128.88 and its two-hundred day moving average price is $128.64. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The firm has a market capitalization of $14.55 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.93). The firm had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $2.32 earnings per share. As a group, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.91 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s payout ratio is presently 124.84%.

About Mid-America Apartment Communities

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