Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Sabal Trust CO

Sabal Trust CO decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.2% in the 1st quarter, Holdings Channel reports. The fund owned 151,380 shares of the real estate investment trust’s stock after selling 333 shares during the period. Sabal Trust CO’s holdings in Mid-America Apartment Communities were worth $25,368,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Mid-America Apartment Communities during the 4th quarter worth $826,562,000. Capital World Investors grew its stake in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock valued at $1,025,868,000 after acquiring an additional 2,088,143 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock valued at $189,507,000 after acquiring an additional 928,851 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mid-America Apartment Communities by 26.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock worth $517,015,000 after acquiring an additional 708,125 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Mid-America Apartment Communities in the fourth quarter worth about $95,671,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 2.1%

NYSE:MAA opened at $146.03 on Thursday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average of $156.05 and a 200-day moving average of $156.85. The firm has a market capitalization of $17.09 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.82 and a beta of 0.78. Mid-America Apartment Communities, Inc. has a 52 week low of $137.51 and a 52 week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The business had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. During the same quarter in the previous year, the firm posted $2.22 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.15%. Mid-America Apartment Communities’s dividend payout ratio is presently 126.25%.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the sale, the executive vice president now owns 3,012 shares of the company’s stock, valued at approximately $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at approximately $47,949,563.09. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,313 shares of company stock valued at $1,171,707 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MAA shares. Scotiabank reduced their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, June 13th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their target price for the company from $148.00 to $190.00 in a research note on Monday, March 10th. JMP Securities raised their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 22nd. Truist Financial cut their price target on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Finally, Mizuho reduced their price objective on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $169.76.

About Mid-America Apartment Communities

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.