Allstate Corp Invests $631,000 in Mid-America Apartment Communities, Inc. $MAA

Allstate Corp purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,514 shares of the real estate investment trust’s stock, valued at approximately $631,000.

Several other large investors have also recently bought and sold shares of MAA. Norges Bank bought a new stake in shares of Mid-America Apartment Communities during the second quarter worth approximately $795,893,000. Daiwa Securities Group Inc. lifted its holdings in Mid-America Apartment Communities by 461.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 721,418 shares of the real estate investment trust’s stock worth $106,777,000 after purchasing an additional 593,020 shares during the last quarter. Invesco Ltd. boosted its stake in Mid-America Apartment Communities by 30.6% in the 2nd quarter. Invesco Ltd. now owns 1,835,408 shares of the real estate investment trust’s stock valued at $271,659,000 after purchasing an additional 430,398 shares during the period. Balyasny Asset Management L.P. bought a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $54,314,000. Finally, First Trust Advisors LP grew its holdings in Mid-America Apartment Communities by 416.5% in the 2nd quarter. First Trust Advisors LP now owns 317,163 shares of the real estate investment trust’s stock valued at $46,943,000 after buying an additional 255,758 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their target price on Mid-America Apartment Communities from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday, November 10th. Barclays lowered their price target on shares of Mid-America Apartment Communities from $155.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Mid-America Apartment Communities in a report on Monday, December 29th. BNP Paribas Exane cut shares of Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating in a report on Monday, September 29th. Finally, BMO Capital Markets upgraded shares of Mid-America Apartment Communities from a “hold” rating to an “outperform” rating and lifted their price target for the company from $150.00 to $158.00 in a research report on Friday, January 9th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $155.37.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. acquired 578 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $129.36 per share, for a total transaction of $74,770.08. Following the transaction, the chief executive officer directly owned 320,391 shares in the company, valued at $41,445,779.76. This trade represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert J. Delpriore sold 5,426 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $138.23, for a total transaction of $750,035.98. Following the completion of the transaction, the executive vice president directly owned 49,745 shares of the company’s stock, valued at approximately $6,876,251.35. The trade was a 9.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 6,079 shares of company stock valued at $838,698. Company insiders own 1.20% of the company’s stock.

Mid-America Apartment Communities Stock Down 0.5%

NYSE MAA opened at $134.64 on Friday. The business has a fifty day moving average price of $134.97 and a two-hundred day moving average price of $138.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.06 and a quick ratio of 0.06. Mid-America Apartment Communities, Inc. has a fifty-two week low of $125.75 and a fifty-two week high of $173.38. The stock has a market capitalization of $15.76 billion, a PE ratio of 28.53, a PEG ratio of 3.88 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.01). Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.14%. The business had revenue of $554.37 million during the quarter, compared to the consensus estimate of $557.22 million. During the same quarter in the previous year, the business posted $2.21 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS and its Q4 2025 guidance at 2.170-2.290 EPS. Equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be paid a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Thursday, January 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.52. Mid-America Apartment Communities’s dividend payout ratio is 129.66%.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.