Adelante Capital Management LLC Sells 57,508 Shares of Mid-America Apartment Communities, Inc. $MAA

Key Points

• Adelante Capital Management LLC reduced its stake in Mid-America Apartment Communities, Inc. by 44.9% during the 1st quarter, now holding 70,612 shares worth approximately $11.8 million.
• The company reported a Q2 EPS of $2.15, slightly exceeding estimates, but experienced a year-over-year decline in earnings per share.
• Mid-America Apartment Communities announced a quarterly dividend of $1.0625 per share, representing an annualized yield of 2.9%, although its dividend payout ratio is notably high at 124.69%.

Adelante Capital Management LLC lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 44.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,612 shares of the real estate investment trust's stock after selling 57,508 shares during the quarter. Mid-America Apartment Communities makes up approximately 0.8% of Adelante Capital Management LLC's investment portfolio, making the stock its 29th largest position. Adelante Capital Management LLC owned approximately 0.06% of Mid-America Apartment Communities worth $11,833,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Financial Network Wealth Advisors LLC bought a new position in shares of Mid-America Apartment Communities in the 1st quarter valued at about $29,000. Larson Financial Group LLC lifted its stake in Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 91 shares during the last quarter. AlphaQuest LLC acquired a new position in Mid-America Apartment Communities during the first quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new stake in Mid-America Apartment Communities in the first quarter valued at approximately $38,000. Finally, CoreCap Advisors LLC raised its stake in Mid-America Apartment Communities by 94.9% in the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Price Performance

MAA traded down $4.17 during trading on Wednesday, hitting $141.26. 744,207 shares of the stock traded hands, compared to its average volume of 759,001. The business has a 50 day moving average price of $145.74 and a 200 day moving average price of $153.94. 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 twelve month low of $137.32 and a twelve month high of $173.38. The company has a market cap of $16.54 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 3.89 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.01. The firm had revenue of $549.90 million for the quarter, compared to analysts' expectations of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The company's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.22 earnings per share. Mid-America Apartment Communities has set its Q3 2025 guidance at 2.080-2.240 EPS. FY 2025 guidance at 8.650-8.890 EPS. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.0%. Mid-America Apartment Communities's payout ratio is 124.69%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MAA. Raymond James Financial cut shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Wells Fargo & Company reduced their price objective on Mid-America Apartment Communities from $173.00 to $156.00 and set an "overweight" rating for the company in a report on Wednesday, August 27th. JMP Securities increased their target price on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 22nd. Truist Financial dropped their price target on 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, UBS Group reduced their target price 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. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $162.78.

Mid-America Apartment Communities Company 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.