Royal Bank of Canada Sells 184,448 Shares of Mid-America Apartment Communities, Inc. $MAA

Royal Bank of Canada cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 50.6% during the first quarter, HoldingsChannel reports. The firm owned 180,122 shares of the real estate investment trust’s stock after selling 184,448 shares during the period. Royal Bank of Canada’s holdings in Mid-America Apartment Communities were worth $21,996,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Physician Wealth Advisors Inc. increased its position in Mid-America Apartment Communities by 65.2% in the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 75 shares during the period. Values First Advisors Inc. increased its position in Mid-America Apartment Communities by 0.5% during the first quarter. Values First Advisors Inc. now owns 15,472 shares of the real estate investment trust’s stock worth $1,889,000 after acquiring an additional 82 shares during the period. Blue Trust Inc. boosted its holdings in Mid-America Apartment Communities by 9.6% in the 4th quarter. Blue Trust Inc. now owns 1,041 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 91 shares during the period. New Mexico Educational Retirement Board grew its position in Mid-America Apartment Communities by 1.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 5,400 shares of the real estate investment trust’s stock worth $750,000 after purchasing an additional 100 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Mid-America Apartment Communities by 1.5% during the 4th quarter. Larson Financial Group LLC now owns 7,008 shares of the real estate investment trust’s stock worth $974,000 after purchasing an additional 102 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 1.0%

Shares of MAA opened at $134.60 on Thursday. The stock has a fifty day moving average price of $135.43 and a two-hundred day moving average price of $131.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a 52-week low of $120.30 and a 52-week high of $146.41. The company has a market cap of $15.62 billion, a price-to-earnings ratio of 39.36 and a beta of 0.73.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were issued a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Wednesday, July 15th. Mid-America Apartment Communities’s payout ratio is currently 178.95%.

Insider Activity

In related news, Director Tamara D. Fischer acquired 1,100 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of $128.55 per share, with a total value of $141,405.00. Following the acquisition, the director directly owned 1,100 shares in the company, valued at $141,405. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler lowered their price target on Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Morgan Stanley raised their target price on Mid-America Apartment Communities from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Wells Fargo & Company boosted their price target on shares of Mid-America Apartment Communities from $140.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. initiated coverage on shares of Mid-America Apartment Communities in a research note on Thursday, July 16th. They issued a “neutral” rating and a $147.00 price objective for the company. Finally, Weiss Ratings raised shares of Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus price target of $145.38.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.