Mid-America Apartment Communities, Inc. $MAA Shares Bought by M&T Bank Corp

Key Points

• M&T Bank Corp increased its stake in Mid-America Apartment Communities by 461.5% in the fourth quarter, buying 11,509 additional shares and lifting its position to 14,003 shares worth about $1.95 million.
• Wall Street sentiment remains mixed on MAA: analysts currently have an average rating of Hold with an average price target of $147.67, though several firms recently trimmed their targets.
• The REIT reported strong quarterly earnings of $2.13 per share, well above estimates, and also paid a quarterly dividend of $1.53 per share, equal to a 4.7% annualized yield.

M&T Bank Corp grew its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 461.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,003 shares of the real estate investment trust's stock after acquiring an additional 11,509 shares during the period. M&T Bank Corp's holdings in Mid-America Apartment Communities were worth $1,946,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. D.A. Davidson & CO. raised its stake in shares of Mid-America Apartment Communities by 16.6% in the 4th quarter. D.A. Davidson & CO. now owns 3,032 shares of the real estate investment trust's stock valued at $421,000 after acquiring an additional 431 shares during the period. Physician Wealth Advisors Inc. raised its stake in shares of Mid-America Apartment Communities by 65.2% in the 4th quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 75 shares during the period. Viewpoint Investment Partners Corp purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $208,000. Sanctuary Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 23.1% in the 4th quarter. Sanctuary Advisors LLC now owns 14,274 shares of the real estate investment trust's stock valued at $1,983,000 after acquiring an additional 2,677 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $263,000. Hedge funds and other institutional investors own 93.60% of the company's stock.

Analysts Set New Price Targets

MAA has been the topic of a number of research reports. Truist Financial cut their target price on shares of Mid-America Apartment Communities from $142.00 to $136.00 and set a "buy" rating on the stock in a research note on Tuesday, March 31st. KeyCorp cut their target price on shares of Mid-America Apartment Communities from $170.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 11th. Citigroup cut their target price on shares of Mid-America Apartment Communities from $148.00 to $143.00 and set a "neutral" rating on the stock in a research note on Wednesday. Scotiabank cut their target price on shares of Mid-America Apartment Communities from $140.00 to $138.00 and set a "sector perform" rating on the stock in a research note on Monday, March 23rd. Finally, Morgan Stanley cut their target price on shares of Mid-America Apartment Communities from $164.00 to $156.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $147.67.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, EVP Amber Fairbanks sold 711 shares of the business's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $124.73, for a total value of $88,683.03. Following the completion of the sale, the executive vice president owned 4,471 shares of the company's stock, valued at approximately $557,667.83. The trade was a 13.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,039 shares of company stock valued at $129,594. 0.60% of the stock is currently owned by insiders.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock opened at $129.27 on Friday. Mid-America Apartment Communities, Inc. has a 12-month low of $120.30 and a 12-month high of $164.81. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 39.17 and a beta of 0.77. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.13 and a quick ratio of 0.13. The firm's fifty day moving average price is $127.19 and its 200 day moving average price is $131.50.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $1.30. Mid-America Apartment Communities had a net margin of 17.60% and a return on equity of 6.61%. The firm had revenue of $553.73 million for the quarter, compared to the consensus estimate of $555.75 million. During the same quarter in the previous year, the firm posted $2.20 EPS. The firm's quarterly revenue was up .8% on a year-over-year basis. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.53 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were given a $1.53 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.7%. Mid-America Apartment Communities's payout ratio is presently 185.45%.

About Mid-America Apartment Communities

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.