Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,577 shares of the real estate investment trust’s stock after purchasing an additional 332 shares during the period. Truist Financial Corp’s holdings in Mid-America Apartment Communities were worth $6,128,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Xponance Inc. raised its stake in shares of Mid-America Apartment Communities by 6.0% during the 3rd quarter. Xponance Inc. now owns 15,919 shares of the real estate investment trust’s stock worth $2,048,000 after buying an additional 903 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Mid-America Apartment Communities by 16.5% in the 3rd quarter. Raymond James & Associates now owns 51,453 shares of the real estate investment trust’s stock valued at $6,619,000 after purchasing an additional 7,284 shares in the last quarter. Forsta AP Fonden boosted its holdings in Mid-America Apartment Communities by 134.8% during the third quarter. Forsta AP Fonden now owns 36,400 shares of the real estate investment trust’s stock worth $4,683,000 after buying an additional 20,900 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Mid-America Apartment Communities by 36.1% in the third quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 106 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Mid-America Apartment Communities by 13.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,505 shares of the real estate investment trust’s stock worth $8,041,000 after acquiring an additional 7,418 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $133.00 to $147.00 in a research note on Tuesday, January 16th. Truist Financial reduced their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Morgan Stanley lifted their price target on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Mizuho cut their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus price target of $143.06.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the 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 completion of the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 2,807 shares of company stock valued at $353,955 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $133.00 on Friday. The company has a market capitalization of $15.53 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 3.41 and a beta of 0.80. The business has a 50 day simple moving average of $129.46 and a 200 day simple moving average of $128.51. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data 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). The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 EPS. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.91 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.42%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 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.