Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,000 shares of the real estate investment trust’s stock after selling 1,519 shares during the period. Amalgamated Bank’s holdings in Mid-America Apartment Communities were worth $3,765,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Mid-America Apartment Communities by 9.2% during the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after acquiring an additional 13,045 shares during the period. Columbus Macro LLC purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth about $1,280,000. Sunesis Advisors LLC increased 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 purchasing an additional 18,210 shares in the last quarter. abrdn plc raised its holdings in Mid-America Apartment Communities by 25.4% in the fourth quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock valued at $11,502,000 after buying an additional 17,339 shares during the period. Finally, Wealth Alliance acquired a new position in Mid-America Apartment Communities during the fourth quarter valued at approximately $235,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MAA shares. The Goldman Sachs Group reissued a “buy” rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Morgan Stanley upped their price target on shares of 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. Wedbush raised Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $154.00 in a research report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $139.00 target price for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $144.18.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’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 transaction, the chief executive officer now directly 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 at this link. Insiders sold a total of 2,807 shares of company stock worth $353,955 over the last 90 days. Insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $136.34 on Friday. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.41 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 company’s 50-day simple moving average is $130.31 and its 200-day simple moving average is $128.67. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm had revenue of $543.60 million for the quarter, compared to the consensus estimate of $541.44 million. During the same period in the prior year, the business earned $2.28 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.91 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Mid-America Apartment Communities 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.