Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,060 shares of the real estate investment trust’s stock after selling 2,369 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Mid-America Apartment Communities were worth $1,353,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB increased its holdings in Mid-America Apartment Communities by 9.2% in the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after purchasing an additional 13,045 shares in the last quarter. Columbus Macro LLC purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $1,280,000. Sunesis Advisors LLC lifted its position in Mid-America Apartment Communities by 393.1% during the 4th quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock worth $3,071,000 after acquiring an additional 18,210 shares in the last quarter. Covestor Ltd boosted its holdings in Mid-America Apartment Communities by 71.9% in the 3rd quarter. Covestor Ltd now owns 667 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 279 shares during the period. Finally, Arizona State Retirement System grew its position in Mid-America Apartment Communities by 0.8% in the fourth quarter. Arizona State Retirement System now owns 32,068 shares of the real estate investment trust’s stock valued at $4,312,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

MAA opened at $127.47 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $128.96 and its 200 day moving average price is $128.65. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $158.46. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.83 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The company had revenue of $542.25 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.32 earnings per share. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.61%. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MAA. Piper Sandler reissued 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. 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. Morgan Stanley lifted their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 price objective for the company. Finally, Mizuho reduced their target price on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus price target of $143.18.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 2,807 shares of company stock valued at $353,955 in the last quarter. Company insiders own 1.30% of the company’s stock.

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.