Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Avanza Fonder AB

Avanza Fonder AB trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 8,949 shares of the real estate investment trust’s stock after selling 348 shares during the quarter. Avanza Fonder AB’s holdings in Mid-America Apartment Communities were worth $1,503,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Choreo LLC increased its stake in Mid-America Apartment Communities by 40.7% during the fourth quarter. Choreo LLC now owns 2,247 shares of the real estate investment trust’s stock valued at $344,000 after purchasing an additional 650 shares during the last quarter. Empowered Funds LLC increased its stake in Mid-America Apartment Communities by 11.9% during the fourth quarter. Empowered Funds LLC now owns 2,936 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 312 shares during the last quarter. Summit Trail Advisors LLC bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at $329,000. Leavell Investment Management Inc. increased its stake in Mid-America Apartment Communities by 1.0% during the fourth quarter. Leavell Investment Management Inc. now owns 107,133 shares of the real estate investment trust’s stock valued at $16,559,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in Mid-America Apartment Communities by 11.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 3,747 shares of the real estate investment trust’s stock valued at $579,000 after purchasing an additional 384 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MAA shares. Jefferies Financial Group raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their price target for the company from $148.00 to $190.00 in a report on Monday, March 10th. Raymond James downgraded shares of Mid-America Apartment Communities from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $185.00 to $175.00 in a report on Thursday, May 15th. JMP Securities boosted their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a “market outperform” rating in a report on Thursday, May 22nd. Truist Financial reduced their price target on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. Finally, Barclays upped their price objective on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $169.50.

Insiders Place Their Bets

In other news, EVP Amber Fairbanks sold 173 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president now owns 3,012 shares in the company, valued at $502,552.20. This represents a 5.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the transaction, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,313 shares of company stock worth $1,171,707. Company insiders own 1.20% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $150.19 on Thursday. Mid-America Apartment Communities, Inc. has a twelve month low of $136.85 and a twelve month high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 3.72 and a beta of 0.78. The firm has a 50-day moving average of $157.09 and a two-hundred day moving average of $157.75.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.22 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.03%. Mid-America Apartment Communities’s payout ratio is presently 126.25%.

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.