Mid-America Apartment Communities, Inc. $MAA Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 21.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,243 shares of the real estate investment trust’s stock after selling 1,450 shares during the quarter. Summit Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $776,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Mid-America Apartment Communities during the 2nd quarter worth approximately $26,000. Larson Financial Group LLC grew its position in Mid-America Apartment Communities by 107.1% in the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 91 shares in the last quarter. Financial Network Wealth Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities during the first quarter valued at approximately $29,000. Sound Income Strategies LLC raised its stake in shares of Mid-America Apartment Communities by 972.2% during the second quarter. Sound Income Strategies LLC now owns 193 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 175 shares during the period. Finally, AlphaQuest LLC acquired a new position in shares of Mid-America Apartment Communities during the first quarter worth $34,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Trading Up 2.0%

NYSE MAA opened at $129.56 on Friday. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 3.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. Mid-America Apartment Communities, Inc. has a 12 month low of $125.75 and a 12 month high of $173.38. The company’s fifty day moving average price is $136.60 and its two-hundred day moving average price is $145.97.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.01). Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.10%. The company had revenue of $554.37 million during the quarter, compared to analyst estimates of $557.22 million. During the same quarter last year, the company posted $2.21 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. As a group, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th were paid a dividend of $1.515 per share. The ex-dividend date was Wednesday, October 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. This represents a $6.06 annualized dividend and a yield of 4.7%. Mid-America Apartment Communities’s payout ratio is currently 128.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MAA shares. KeyCorp lowered their price target on shares of Mid-America Apartment Communities from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, August 13th. UBS Group decreased their price objective on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating for the company in a research report on Tuesday, July 15th. Morgan Stanley lowered their target price on Mid-America Apartment Communities from $177.00 to $169.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Piper Sandler dropped their target price on Mid-America Apartment Communities from $153.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. Finally, Barclays cut their price target on Mid-America Apartment Communities from $156.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 30th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $158.44.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. bought 578 shares of Mid-America Apartment Communities stock in a transaction on Friday, October 31st. The shares were bought at an average price of $129.36 per share, with a total value of $74,770.08. Following the acquisition, the chief executive officer directly owned 320,391 shares in the company, valued at approximately $41,445,779.76. This represents a 0.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.