Park Avenue Securities LLC Purchases 277 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Park Avenue Securities LLC lifted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 9.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,153 shares of the real estate investment trust’s stock after acquiring an additional 277 shares during the quarter. Park Avenue Securities LLC’s holdings in Mid-America Apartment Communities were worth $528,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Metis Global Partners LLC increased its position in Mid-America Apartment Communities by 9.5% during the 4th quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock valued at $2,670,000 after purchasing an additional 1,499 shares during the period. Paradigm Asset Management Co. LLC boosted its stake in Mid-America Apartment Communities by 1,582.9% in the 4th 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 in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Mid-America Apartment Communities by 31.6% during the fourth quarter. Principal Financial Group Inc. now owns 189,428 shares of the real estate investment trust’s stock valued at $29,280,000 after buying an additional 45,519 shares during the last quarter. Starwood Capital Group Management L.L.C. boosted its stake in Mid-America Apartment Communities by 17.7% during the 4th quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust’s stock valued at $33,914,000 after purchasing an additional 33,000 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Mid-America Apartment Communities by 0.6% during the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock valued at $1,704,000 after buying an additional 69 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MAA shares. Scotiabank cut their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday. Barclays raised their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. JMP Securities boosted their target price on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, May 22nd. Truist Financial dropped their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a research note on Wednesday, May 21st. Finally, Mizuho dropped their price objective on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $169.76.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $149.62 on Friday. The business’s 50 day moving average is $157.09 and its two-hundred day moving average is $157.53. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 3.72 and a beta of 0.78. 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 12-month low of $137.51 and a 12-month high of $173.38.

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

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 126.25%.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of the 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 transaction, the executive vice president now owns 3,012 shares of the company’s stock, valued at approximately $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the sale, the chief executive officer now directly owns 324,171 shares of the company’s stock, valued at $53,890,187.04. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock worth $1,171,707 in the last quarter. 1.20% of the stock is owned by insiders.

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.