CENTRAL TRUST Co Sells 2,916 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

CENTRAL TRUST Co cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 69.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,300 shares of the real estate investment trust's stock after selling 2,916 shares during the period. CENTRAL TRUST Co's holdings in Mid-America Apartment Communities were worth $218,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its stake in Mid-America Apartment Communities by 11.9% during the 4th quarter. Empowered Funds LLC now owns 2,936 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 312 shares during the period. Principal Securities Inc. boosted its stake in Mid-America Apartment Communities by 31.4% during the 4th quarter. Principal Securities Inc. now owns 1,000 shares of the real estate investment trust's stock valued at $155,000 after purchasing an additional 239 shares during the period. Principal Financial Group Inc. boosted its stake in Mid-America Apartment Communities by 31.6% during the 4th quarter. Principal Financial Group Inc. now owns 189,428 shares of the real estate investment trust's stock valued at $29,280,000 after purchasing an additional 45,519 shares during the period. Sanctuary Advisors LLC boosted its stake in Mid-America Apartment Communities by 0.6% during the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 69 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Mid-America Apartment Communities by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 18,351 shares of the real estate investment trust's stock valued at $2,837,000 after purchasing an additional 805 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total transaction of $724,473.92. Following the transaction, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the transaction, the executive vice president now owns 3,012 shares in the company, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,313 shares of company stock worth $1,171,707. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MAA shares. Robert W. Baird boosted their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Truist Financial reduced their price target on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Scotiabank reduced their price target on shares of 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, Barclays upped their price target on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $169.76.

Mid-America Apartment Communities Trading Up 1.2%

Shares of NYSE:MAA traded up $1.71 during mid-day trading on Monday, hitting $150.27. The stock had a trading volume of 779,776 shares, compared to its average volume of 776,331. 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 company has a market cap of $17.59 billion, a PE ratio of 31.31, a P/E/G ratio of 3.80 and a beta of 0.78. Mid-America Apartment Communities, Inc. has a 12-month low of $137.51 and a 12-month high of $173.38. The company's 50 day moving average is $156.32 and its 200-day moving average is $156.98.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results 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. 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%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 EPS. On average, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend payout ratio (DPR) is presently 126.25%.

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.