Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 79.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 409 shares of the real estate investment trust’s stock after selling 1,536 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $55,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MAA. American Century Companies Inc. lifted its stake in shares of Mid-America Apartment Communities by 228.2% in the first quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock valued at $834,000 after purchasing an additional 2,770 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Mid-America Apartment Communities by 62.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock valued at $1,078,000 after acquiring an additional 1,974 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in Mid-America Apartment Communities by 22.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 325 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Mid-America Apartment Communities during the 1st quarter valued at about $393,000. Finally, Sei Investments Co. increased its holdings in Mid-America Apartment Communities by 7.5% during the 1st quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock valued at $10,619,000 after acquiring an additional 3,544 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MAA. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada restated a “sector perform” rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Jefferies Financial Group restated a “hold” rating and set a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.18.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $126.08 on Friday. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The firm has a 50 day moving average price of $128.92 and a 200 day moving average price of $128.63. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.80 and a beta of 0.80. 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 earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $542.64 million. During the same quarter in the previous year, the firm posted $2.32 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.66%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.84%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 2,807 shares of company stock valued at $353,955 over the last ninety days. Corporate insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Company 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.