Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 69.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,981 shares of the real estate investment trust’s stock after selling 24,674 shares during the quarter. Millennium Management LLC’s holdings in Mid-America Apartment Communities were worth $1,697,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Metis Global Partners LLC raised its stake in shares of Mid-America Apartment Communities by 9.5% in the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock worth $2,670,000 after purchasing an additional 1,499 shares during the last quarter. Paradigm Asset Management Co. LLC raised its stake in shares of Mid-America Apartment Communities by 1,582.9% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust’s stock worth $1,035,000 after purchasing an additional 6,300 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Mid-America Apartment Communities by 31.6% in the fourth quarter. Principal Financial Group Inc. now owns 189,428 shares of the real estate investment trust’s stock worth $29,280,000 after purchasing an additional 45,519 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 0.6% in the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 69 shares during the last quarter. Finally, Aew Capital Management L P raised its stake in shares of Mid-America Apartment Communities by 516.3% in the fourth quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust’s stock worth $97,533,000 after purchasing an additional 528,608 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Insider Activity at Mid-America Apartment Communities

In other news, EVP Amber Fairbanks sold 173 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This trade represents a 5.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of Mid-America Apartment Communities stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the transaction, the chief executive officer now owns 324,171 shares of the company’s stock, valued at $53,890,187.04. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,313 shares of company stock worth $1,171,707. Insiders own 1.20% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $155.58 on Tuesday. The firm has a market cap of $18.21 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 3.72 and a beta of 0.80. The company has a 50 day moving average of $158.96 and a 200-day moving average of $158.12. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a 1-year low of $133.19 and a 1-year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.22 EPS. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.90%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 126.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MAA shares. Royal Bank of Canada lifted their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Mizuho lowered their price target on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Robert W. Baird boosted their price objective on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Scotiabank boosted their price objective on Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 12th. Finally, Raymond James downgraded Mid-America Apartment Communities from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $185.00 to $175.00 in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $169.50.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.