Foundry Partners LLC Sells 385 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Foundry Partners LLC cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 61,506 shares of the real estate investment trust’s stock after selling 385 shares during the quarter. Foundry Partners LLC’s holdings in Mid-America Apartment Communities were worth $7,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Summit X LLC lifted its holdings in Mid-America Apartment Communities by 3.4% during the second quarter. Summit X LLC now owns 2,135 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 70 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its position in shares of Mid-America Apartment Communities by 3.8% during the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 1,910 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 70 shares during the period. Cape ANN Savings Bank increased its position in shares of Mid-America Apartment Communities by 2.5% during the second quarter. Cape ANN Savings Bank now owns 3,339 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 80 shares during the period. Pathstone Family Office LLC increased its position in shares of Mid-America Apartment Communities by 2.4% during the third quarter. Pathstone Family Office LLC now owns 3,425 shares of the real estate investment trust’s stock valued at $531,000 after buying an additional 80 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of Mid-America Apartment Communities by 6.1% during the third quarter. Glenmede Trust Co. NA now owns 1,463 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 84 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAA has been the topic of several analyst reports. Mizuho upped their price target on Mid-America Apartment Communities from $124.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Bank of America cut Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $136.00 to $112.00 in a research report on Tuesday, October 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday. Truist Financial upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their price objective for the stock from $154.00 to $158.00 in a research report on Tuesday, January 16th. Finally, Colliers Securities upgraded 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 report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $145.26.

Get Our Latest Report on Mid-America Apartment Communities

Mid-America Apartment Communities Stock Performance

NYSE:MAA traded up $0.58 on Monday, hitting $125.10. The stock had a trading volume of 92,086 shares, compared to its average volume of 1,112,518. The stock has a market cap of $14.60 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 4.70 and a beta of 0.81. The company has a quick ratio of 0.26, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The business’s 50-day simple moving average is $131.47 and its two-hundred day simple moving average is $132.62. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $173.43.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company had revenue of $542.25 million for the quarter, compared to analysts’ expectations of $542.64 million. During the same period in the previous year, the firm earned $2.32 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that Mid-America Apartment Communities, Inc. will post 9.05 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were given a dividend of $1.47 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is presently 124.84%.

Insider Activity

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

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.

Recommended Stories

Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report).

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

Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.