Graham Capital Wealth Management LLC Trims Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Graham Capital Wealth Management LLC has reduced its stake in Mid-America Apartment Communities, Inc. by 50.4%, now holding 11,082 shares valued at approximately $1.86 million.
• Several other institutional investors have increased their positions in Mid-America Apartment Communities, with Capital World Investors raising its stake by 45.9%.
• Mid-America Apartment Communities recently declared a quarterly dividend of $1.515 per share, representing an annual yield of 3.99%.

Graham Capital Wealth Management LLC trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 50.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,082 shares of the real estate investment trust's stock after selling 11,271 shares during the quarter. Mid-America Apartment Communities makes up about 2.1% of Graham Capital Wealth Management LLC's investment portfolio, making the stock its 24th largest holding. Graham Capital Wealth Management LLC's holdings in Mid-America Apartment Communities were worth $1,857,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its holdings in Mid-America Apartment Communities by 5.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,953 shares of the real estate investment trust's stock valued at $1,384,000 after purchasing an additional 479 shares in the last quarter. American Century Companies Inc. lifted its holdings in Mid-America Apartment Communities by 4.6% during the fourth quarter. American Century Companies Inc. now owns 39,927 shares of the real estate investment trust's stock valued at $6,172,000 after purchasing an additional 1,760 shares in the last quarter. Korea Investment CORP lifted its holdings in Mid-America Apartment Communities by 135.4% during the fourth quarter. Korea Investment CORP now owns 69,632 shares of the real estate investment trust's stock valued at $10,763,000 after purchasing an additional 40,052 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Mid-America Apartment Communities by 11.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 264,437 shares of the real estate investment trust's stock valued at $41,004,000 after purchasing an additional 27,087 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Mid-America Apartment Communities by 13.1% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 11,741 shares of the real estate investment trust's stock valued at $1,815,000 after purchasing an additional 1,364 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the sale, the executive vice president owned 3,012 shares of the company's stock, valued at approximately $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Mizuho lowered their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. JMP Securities lifted their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday, May 22nd. Scotiabank lowered their target price on shares of Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a report on Friday, June 13th. Robert W. Baird boosted their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Truist Financial lowered their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $168.81.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock traded down $4.30 during mid-day trading on Thursday, reaching $144.49. 915,542 shares of the company's stock traded hands, compared to its average volume of 896,652. The company has a market cap of $16.91 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 3.90 and a beta of 0.75. The stock has a 50 day moving average of $150.80 and a two-hundred day moving average of $156.23. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. Mid-America Apartment Communities, Inc. has a 12-month low of $139.60 and a 12-month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The company had revenue of $549.90 million for the quarter, compared to the consensus estimate of $552.19 million. During the same quarter in the prior year, the firm earned $2.22 earnings per share. Mid-America Apartment Communities's revenue was up .6% on a year-over-year basis. Equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

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.