Allianz Asset Management GmbH Sells 27,421 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Allianz Asset Management GmbH lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 19.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,177 shares of the real estate investment trust's stock after selling 27,421 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of Mid-America Apartment Communities worth $19,469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAA. Larson Financial Group LLC boosted its position in Mid-America Apartment Communities by 107.1% during the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 91 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of 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 worth $36,000 after buying an additional 112 shares in the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Mid-America Apartment Communities by 200.0% in the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock worth $40,000 after buying an additional 160 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth about $46,000. Finally, NBC Securities Inc. purchased a new stake in shares of Mid-America Apartment Communities in the first quarter worth about $46,000. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Price Performance

Shares of MAA stock traded up $0.07 during trading hours on Friday, hitting $151.75. 560,418 shares of the company's stock were exchanged, compared to its average volume of 860,699. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.82. Mid-America Apartment Communities, Inc. has a 12-month low of $139.60 and a 12-month high of $173.38. The business's 50 day simple moving average is $151.35 and its 200-day simple moving average is $156.20. The company has a market capitalization of $17.76 billion, a PE ratio of 31.61, a PEG ratio of 3.88 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The company had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. During the same period in the previous year, the firm earned $2.22 earnings per share. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is 126.25%.

Insider Activity at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president directly owned 3,012 shares of the company's stock, valued at $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Mizuho lowered their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Scotiabank lowered their price target on shares of Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a report on Friday, June 13th. UBS Group lowered their price target on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a report on Tuesday, July 15th. Finally, Truist Financial dropped their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of "Hold" and a consensus target price of $168.81.

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.