Aew Capital Management L P Sells 21,260 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Aew Capital Management L P decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,276 shares of the real estate investment trust’s stock after selling 21,260 shares during the period. Aew Capital Management L P owned about 0.10% of Mid-America Apartment Communities worth $15,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC lifted its stake in Mid-America Apartment Communities by 12.2% in the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after purchasing an additional 592,306 shares during the last quarter. Morgan Stanley increased its position in Mid-America Apartment Communities by 1.4% in the 3rd quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock valued at $301,695,000 after acquiring an additional 31,813 shares during the period. Blackstone Inc. increased its position in Mid-America Apartment Communities by 51.8% in the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after acquiring an additional 697,200 shares during the period. Northern Trust Corp increased its position in Mid-America Apartment Communities by 5.7% in the 3rd quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock valued at $222,023,000 after acquiring an additional 93,020 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Mid-America Apartment Communities by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,014 shares of the real estate investment trust’s stock valued at $161,072,000 after acquiring an additional 16,889 shares during the period. Institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

MAA has been the subject of several recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $136.00 price target (down from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Truist Financial decreased their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Finally, Mizuho decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus price target of $143.18.

Mid-America Apartment Communities Stock Up 1.6 %

Shares of Mid-America Apartment Communities stock traded up $2.04 during trading hours on Friday, reaching $129.24. The company’s stock had a trading volume of 874,720 shares, compared to its average volume of 877,239. 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 market capitalization of $15.09 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.88 and a beta of 0.80. The stock’s fifty day simple moving average is $129.06 and its two-hundred day simple moving average is $128.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last released 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 business had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. During the same period last year, the business posted $2.32 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’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 of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 2,807 shares of company stock valued at $353,955 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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.