Wealth Enhancement Advisory Services LLC Sells 10,056 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wealth Enhancement Advisory Services LLC decreased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 20.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,256 shares of the real estate investment trust’s stock after selling 10,056 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Mid-America Apartment Communities were worth $5,297,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Mid-America Apartment Communities by 323.8% during the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock valued at $5,430,000 after purchasing an additional 30,855 shares during the period. Perpetual Ltd bought a new stake in Mid-America Apartment Communities during the first quarter valued at about $15,413,000. Nordea Investment Management AB lifted its position in shares of 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 valued at $21,020,000 after acquiring an additional 13,045 shares in the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of Mid-America Apartment Communities by 9.9% in the first quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock worth $25,984,000 after acquiring an additional 17,765 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Mid-America Apartment Communities by 163.1% during 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 in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 2,807 shares of company stock worth $353,955 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

MAA has been the topic of a number of research analyst reports. UBS Group boosted their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a “sell” rating in a report on Tuesday, May 14th. Mizuho upped their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Wedbush raised shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $154.00 in a report on Monday, May 6th. Finally, Truist Financial lifted their target price on Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to 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 Stock Performance

NYSE:MAA opened at $141.18 on Tuesday. The firm has a market capitalization of $16.49 billion, a PE ratio of 29.60, a PEG ratio of 3.17 and a beta of 0.85. The stock’s fifty day moving average is $135.70 and its 200 day moving average is $132.19. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $158.46. 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 announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $541.44 million. During the same period in the prior year, the company posted $2.28 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 4.16%. The ex-dividend date is Monday, July 15th. Mid-America Apartment Communities’s payout ratio is currently 123.27%.

Mid-America Apartment Communities Profile

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.