Mutual of America Capital Management LLC Cuts Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Mutual of America Capital Management LLC reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.4% in the 4th quarter, Holdings Channel reports. The firm owned 15,613 shares of the real estate investment trust’s stock after selling 712 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Mid-America Apartment Communities were worth $2,099,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Murphy Middleton Hinkle & Parker Inc. raised its position in Mid-America Apartment Communities by 3.8% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 1,910 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 70 shares during the period. Pathstone Family Office LLC raised its position in Mid-America Apartment Communities by 2.4% in the third quarter. Pathstone Family Office LLC now owns 3,425 shares of the real estate investment trust’s stock valued at $531,000 after purchasing an additional 80 shares during the period. Raleigh Capital Management Inc. raised its position in Mid-America Apartment Communities by 22.2% in the third quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 84 shares during the period. Glenmede Trust Co. NA raised its position in Mid-America Apartment Communities by 6.1% in the third quarter. Glenmede Trust Co. NA now owns 1,463 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 84 shares during the period. Finally, First Financial Corp IN raised its position in Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 86 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Up 1.2 %

NYSE:MAA opened at $126.08 on Friday. The company has a market capitalization of $14.72 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.80 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. The stock has a 50-day simple moving average of $128.92 and a 200 day simple moving average of $128.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.32 earnings per share. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.66%. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 2,807 shares of company stock worth $353,955 over the last ninety days. Company insiders own 1.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MAA. Royal Bank of Canada reissued a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Mizuho dropped their target price on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Truist Financial dropped their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the stock from $133.00 to $147.00 in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $143.18.

Mid-America Apartment Communities Company Profile

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.