Shell Asset Management Co. Sells 1,123 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Shell Asset Management Co. lowered its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,450 shares of the real estate investment trust’s stock after selling 1,123 shares during the period. Shell Asset Management Co.’s holdings in Mid-America Apartment Communities were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in shares of Mid-America Apartment Communities by 12.2% during the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after acquiring an additional 592,306 shares in the last quarter. Norges Bank bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $713,500,000. Morgan Stanley increased its position in shares of Mid-America Apartment Communities by 1.4% during the third quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock valued at $301,695,000 after acquiring an additional 31,813 shares in the last quarter. Blackstone Inc. increased its position in shares of Mid-America Apartment Communities by 51.8% during the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after acquiring an additional 697,200 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Mid-America Apartment Communities by 5.7% during the third quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock valued at $222,023,000 after acquiring an additional 93,020 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 1.4 %

Shares of Mid-America Apartment Communities stock opened at $138.57 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46. The company’s fifty day simple moving average is $131.93 and its 200-day simple moving average is $130.68. The stock has a market capitalization of $16.19 billion, a PE ratio of 29.05, a P/E/G ratio of 3.05 and a beta of 0.84.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The firm had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. During the same quarter last year, the firm posted $2.28 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.87 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 123.27%.

Wall Street Analyst Weigh In

A number of research firms have commented on MAA. Wells Fargo & Company lifted their target price on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Morgan Stanley lifted their target price on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 15th. Wedbush raised shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $135.00 to $154.00 in a research report on Monday, May 6th. Finally, Scotiabank lifted their target price on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.47.

Get Our Latest Report on MAA

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following 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 filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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