Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,302 shares of the real estate investment trust’s stock after selling 198 shares during the period. Cannell & Spears LLC’s holdings in Mid-America Apartment Communities were worth $201,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MAA. State Street Corp raised its stake in Mid-America Apartment Communities by 0.9% during the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock worth $1,228,569,000 after acquiring an additional 65,696 shares during the period. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $826,562,000. JPMorgan Chase & Co. lifted its holdings in shares of Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock worth $517,015,000 after purchasing an additional 708,125 shares during the last quarter. Geode Capital Management LLC boosted its position in Mid-America Apartment Communities by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock valued at $497,624,000 after purchasing an additional 48,168 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Mid-America Apartment Communities by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,389,113 shares of the real estate investment trust’s stock worth $214,715,000 after buying an additional 33,528 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price on the stock in a research note on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. BMO Capital Markets decreased their target price on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research report on Tuesday, January 21st. Truist Financial lifted their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their price objective for the stock from $148.00 to $190.00 in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.90.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $167.48 on Wednesday. The firm has a 50-day moving average of $160.29 and a two-hundred day moving average of $157.56. The company has a market capitalization of $19.58 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 3.72 and a beta of 0.90. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a twelve month low of $123.73 and a twelve month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. As a group, analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 135.27%.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.