Legal & General Group Plc Decreases Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Legal & General Group Plc reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,556,096 shares of the real estate investment trust’s stock after selling 10,495 shares during the quarter. Legal & General Group Plc owned about 1.33% of Mid-America Apartment Communities worth $200,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in Mid-America Apartment Communities during the 3rd quarter worth approximately $35,000. ST Germain D J Co. Inc. purchased a new position in Mid-America Apartment Communities during the 2nd quarter worth approximately $36,000. Quarry LP raised its position in Mid-America Apartment Communities by 186.5% during the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 179 shares during the last quarter. Hibernia Wealth Partners LLC purchased a new position in Mid-America Apartment Communities during the 3rd quarter worth approximately $46,000. Finally, Lindbrook Capital LLC raised its position in Mid-America Apartment Communities by 36.1% during the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 106 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Mizuho dropped their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Colliers Securities raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 price objective on the stock in a research note on Tuesday, November 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $136.00 price objective (down previously from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Finally, Truist Financial raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price objective for the stock from $154.00 to $158.00 in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $143.18.

View Our Latest Report on Mid-America Apartment Communities

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of Mid-America Apartment Communities stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total transaction of $524,485.88. Following the transaction, the chief executive officer now owns 304,523 shares in the company, valued at approximately $39,651,939.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of Mid-America Apartment Communities stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total transaction of $524,485.88. Following the transaction, the chief executive officer now owns 304,523 shares in the company, valued at approximately $39,651,939.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Melanie Carpenter sold 371 shares of Mid-America Apartment Communities stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the transaction, the executive vice president now owns 19,067 shares in the company, valued at approximately $2,504,069.11. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Trading Up 2.1 %

Shares of MAA opened at $132.67 on Friday. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average is $129.80 and its two-hundred day moving average is $130.38. The stock has a market cap of $15.49 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 4.14 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The business had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same period last year, the firm earned $2.32 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.98 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Thursday, January 11th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Mid-America Apartment Communities Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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