Park Avenue Securities LLC Sells 947 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Park Avenue Securities LLC cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 30.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,206 shares of the real estate investment trust’s stock after selling 947 shares during the period. Park Avenue Securities LLC’s holdings in Mid-America Apartment Communities were worth $290,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MAA. Wellington Management Group LLP increased its position in shares of Mid-America Apartment Communities by 323.8% during the fourth quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after buying an additional 30,855 shares during the period. Perpetual Ltd acquired a new stake in Mid-America Apartment Communities in the first quarter worth $15,413,000. Nordea Investment Management AB grew its holdings in Mid-America Apartment Communities by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after purchasing an additional 13,045 shares during the period. Janney Montgomery Scott LLC grew its holdings in Mid-America Apartment Communities by 163.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock worth $2,923,000 after purchasing an additional 13,474 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Mid-America Apartment Communities by 159.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock worth $3,531,000 after purchasing an additional 16,144 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s 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 sale, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 2,807 shares of company stock worth $353,955. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 15th. Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a report on Thursday, June 13th. Wells Fargo & Company raised their price objective on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Piper Sandler restated a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Finally, Wedbush upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $154.00 in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average target price of $142.44.

Mid-America Apartment Communities Trading Down 1.0 %

MAA stock opened at $141.18 on Tuesday. The company has a market capitalization of $16.49 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 3.17 and a beta of 0.85. 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 moving average price is $135.70 and its two-hundred day moving average price is $132.19. 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 posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). The business had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.28 earnings per share. As a group, analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

About Mid-America Apartment Communities

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.