Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 68.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,468 shares of the real estate investment trust's stock after selling 162,512 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of Mid-America Apartment Communities worth $12,639,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MAA. CoreCap Advisors LLC increased its stake 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 valued at $36,000 after purchasing an additional 112 shares during the period. GoalVest Advisory LLC lifted its holdings in shares of Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 160 shares during the last quarter. IFP Advisors Inc raised its position in Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 68 shares during the period. NBC Securities Inc. acquired a new position in Mid-America Apartment Communities in the 1st quarter worth about $46,000. Finally, Headlands Technologies LLC acquired a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at about $46,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the sale, the executive vice president owned 3,012 shares of the company's stock, valued at $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the transaction, the chief executive officer directly owned 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,861 shares of company stock valued at $431,607 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Price Performance

Shares of MAA traded up $1.26 during trading hours on Friday, reaching $150.47. 403,534 shares of the stock traded hands, compared to its average volume of 794,983. 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 52-week low of $137.51 and a 52-week high of $173.38. The company's 50-day moving average price is $154.78 and its two-hundred day moving average price is $156.41. The company has a market cap of $17.61 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 3.85 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly 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 business had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. During the same quarter in the previous year, the company earned $2.22 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.03%. Mid-America Apartment Communities's payout ratio is presently 126.25%.

Analyst Ratings Changes

MAA has been the subject of a number of research reports. Raymond James Financial downgraded Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Wall Street Zen cut Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Scotiabank dropped their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a report on Friday, June 13th. JMP Securities lifted their target price on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, May 22nd. Finally, Barclays lifted their target price on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $169.76.

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.