Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by abrdn plc

abrdn plc increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,542 shares of the real estate investment trust’s stock after purchasing an additional 17,339 shares during the period. abrdn plc owned 0.07% of Mid-America Apartment Communities worth $11,502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MAA. DAVENPORT & Co LLC lifted its position in Mid-America Apartment Communities by 4.5% in the third quarter. DAVENPORT & Co LLC now owns 3,537 shares of the real estate investment trust’s stock valued at $455,000 after acquiring an additional 153 shares during the last quarter. Czech National Bank lifted its position in Mid-America Apartment Communities by 47.7% in the third quarter. Czech National Bank now owns 20,392 shares of the real estate investment trust’s stock valued at $2,623,000 after acquiring an additional 6,582 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Mid-America Apartment Communities by 4.7% in the third quarter. Asset Management One Co. Ltd. now owns 248,211 shares of the real estate investment trust’s stock valued at $31,932,000 after acquiring an additional 11,184 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Mid-America Apartment Communities by 16.5% in the third quarter. Handelsbanken Fonder AB now owns 31,429 shares of the real estate investment trust’s stock valued at $4,043,000 after acquiring an additional 4,444 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in Mid-America Apartment Communities in the third quarter valued at $312,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MAA shares. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Truist Financial reduced their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $143.18.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is owned by company insiders.

Mid-America Apartment Communities Trading Down 0.9 %

Shares of MAA opened at $127.20 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average is $129.10 and its two-hundred day moving average is $128.63. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The firm has a market capitalization of $14.85 billion, a P/E ratio of 27.01, a PEG ratio of 2.88 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share 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 company had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same quarter in the previous year, the company posted $2.32 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, April 12th. This represents a $5.88 annualized dividend and a yield of 4.62%. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

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.