Aurora Investment Managers LLC. Lowers Position in Mid-America Apartment Communities, Inc. $MAA

Key Points

• Aurora Investment Managers cut its Mid-America Apartment Communities stake by 78.3% in the second quarter, selling 16,253 shares and retaining 4,506 shares valued at approximately $626,000.
• Institutional investors and hedge funds own 93.6% of MAA’s outstanding shares; other major investors, including Norges Bank and Swiss Life Asset Management, increased their positions.
• Analysts remain cautious, with MAA carrying a consensus “Hold” rating and an average price target of $145.38. The REIT recently paid a quarterly dividend of $1.53 per share, representing a 4.5% yield.

Aurora Investment Managers LLC. reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 78.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,506 shares of the real estate investment trust's stock after selling 16,253 shares during the quarter. Aurora Investment Managers LLC.'s holdings in Mid-America Apartment Communities were worth $626,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MAA. Algebris UK Ltd. lifted its stake in shares of Mid-America Apartment Communities by 27.5% in the fourth quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust's stock worth $18,358,000 after buying an additional 28,528 shares in the last quarter. Norges Bank purchased a new stake in Mid-America Apartment Communities during the 4th quarter valued at about $750,603,000. Swiss Life Asset Management Ltd raised its holdings in Mid-America Apartment Communities by 466.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 45,424 shares of the real estate investment trust's stock valued at $6,310,000 after acquiring an additional 37,405 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Mid-America Apartment Communities by 4.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 216,565 shares of the real estate investment trust's stock worth $30,083,000 after buying an additional 8,724 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Mid-America Apartment Communities by 29.5% during the fourth quarter. BNP Paribas Financial Markets now owns 246,786 shares of the real estate investment trust's stock worth $34,281,000 after buying an additional 56,224 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mid-America Apartment Communities

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Mizuho lifted their price target on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an "outperform" rating in a research report on Wednesday, June 10th. Weiss Ratings upgraded Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 20th. JPMorgan Chase & Co. began coverage on Mid-America Apartment Communities in a research note on Thursday, July 16th. They issued a "neutral" rating and a $147.00 price target on the stock. Cantor Fitzgerald increased their price target on Mid-America Apartment Communities from $132.00 to $140.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Finally, Piper Sandler cut their price objective on Mid-America Apartment Communities from $143.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $145.38.

Mid-America Apartment Communities Stock Up 1.0%

MAA opened at $134.90 on Friday. The business has a 50 day moving average price of $135.60 and a two-hundred day moving average price of $131.72. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.02. The company has a market cap of $15.65 billion, a PE ratio of 39.44 and a beta of 0.73. Mid-America Apartment Communities, Inc. has a 52 week low of $120.30 and a 52 week high of $146.41.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a dividend of $1.53 per share. This represents a $6.12 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Wednesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is 178.95%.

Mid-America Apartment Communities Company Profile

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.

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