Bank of New York Mellon Corp Has $130.57 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of New York Mellon Corp lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 0.67% of Mid-America Apartment Communities worth $130,573,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MAA. Summit Trail Advisors LLC increased its holdings in shares of Mid-America Apartment Communities by 106.9% during the 1st quarter. Summit Trail Advisors LLC now owns 4,401 shares of the real estate investment trust's stock worth $738,000 after buying an additional 2,274 shares during the last quarter. Starwood Capital Group Management L.L.C. increased its holdings in shares of Mid-America Apartment Communities by 17.7% in the 4th quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust's stock valued at $33,914,000 after acquiring an additional 33,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Mid-America Apartment Communities by 1.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 362,264 shares of the real estate investment trust's stock valued at $60,708,000 after purchasing an additional 5,650 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Mid-America Apartment Communities by 7.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,328 shares of the real estate investment trust's stock worth $1,396,000 after acquiring an additional 608 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Mid-America Apartment Communities by 22.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,482 shares of the real estate investment trust's stock worth $22,796,000 after acquiring an additional 27,392 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded down $0.09 during midday trading on Wednesday, hitting $150.17. 800,789 shares of the company were exchanged, compared to its average volume of 800,157. The firm has a market capitalization of $17.58 billion, a P/E ratio of 31.29, a PEG ratio of 3.84 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. The firm's 50 day moving average price is $154.43 and its two-hundred day moving average price is $156.43. Mid-America Apartment Communities, Inc. has a 52 week low of $137.51 and a 52 week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced 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. The business had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. Mid-America Apartment Communities's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 EPS. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MAA. Wall Street Zen lowered Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Truist Financial lowered 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. 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. Scotiabank decreased their target price on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a research note on Friday, June 13th. Finally, Mizuho decreased their target price on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $169.76.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value 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. The trade was a 5.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

About Mid-America Apartment Communities

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.