Bank of New York Mellon Corp Sells 14,437 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of New York Mellon Corp lowered its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 779,170 shares of the real estate investment trust's stock after selling 14,437 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of Mid-America Apartment Communities worth $130,573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp raised its position in shares of Mid-America Apartment Communities by 21.9% in the 4th quarter. Jones Financial Companies Lllp now owns 590 shares of the real estate investment trust's stock worth $91,000 after acquiring an additional 106 shares in the last quarter. Victory Capital Management Inc. increased its position in Mid-America Apartment Communities by 45.6% during the 4th quarter. Victory Capital Management Inc. now owns 62,434 shares of the real estate investment trust's stock valued at $9,650,000 after buying an additional 19,548 shares in the last quarter. Assetmark Inc. increased its position in Mid-America Apartment Communities by 4.2% during the 4th quarter. Assetmark Inc. now owns 6,184 shares of the real estate investment trust's stock valued at $956,000 after buying an additional 248 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Mid-America Apartment Communities during the 4th quarter valued at approximately $10,035,000. Finally, PNC Financial Services Group Inc. increased its position in Mid-America Apartment Communities by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,589 shares of the real estate investment trust's stock valued at $2,255,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock traded down $0.37 during trading hours on Friday, hitting $150.73. The company's stock had a trading volume of 940,003 shares, compared to its average volume of 803,850. The business has a 50 day moving average price of $154.02 and a two-hundred day moving average price of $156.37. Mid-America Apartment Communities, Inc. has a 12-month low of $138.89 and a 12-month high of $173.38. The company has a market cap of $17.64 billion, a PE ratio of 31.40, a PEG ratio of 3.85 and a beta of 0.75. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The business 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 business earned $2.22 earnings per share. The business's revenue was up 1.0% on a year-over-year basis. Analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed 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 4.02%. Mid-America Apartment Communities's payout ratio is 126.25%.

Insider Activity

In other news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the sale, the executive vice president directly owned 3,012 shares of the company's stock, valued at approximately $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

MAA has been the subject of a number of analyst reports. Barclays raised their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Raymond James Financial downgraded Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Mizuho cut their target price on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Truist Financial cut their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Finally, Wall Street Zen downgraded Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of "Hold" and an average target price of $168.71.

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.