Mid-America Apartment Communities, Inc. $MAA Shares Sold by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners cut its MAA stake by 54.6% in the third quarter, selling 10,282 shares and retaining 8,556 shares valued at about $1.025 million.
• Insider Adrian Hill bought 844 shares for approximately $99,900, while institutional investors collectively own 93.6% of the company’s stock.
• MAA’s quarterly EPS of $0.72 fell short of the $2.10 consensus, though revenue slightly beat estimates and rose 1% year over year. Analysts’ consensus rating is “Hold,” with a $137.29 price target.

Chicago Partners Investment Group LLC decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 54.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,556 shares of the real estate investment trust's stock after selling 10,282 shares during the period. Chicago Partners Investment Group LLC's holdings in Mid-America Apartment Communities were worth $1,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rakuten Investment Management Inc. boosted its position in shares of Mid-America Apartment Communities by 9.5% during the 3rd quarter. Rakuten Investment Management Inc. now owns 20,848 shares of the real estate investment trust's stock valued at $2,469,000 after purchasing an additional 1,815 shares in the last quarter. Provenance Wealth Advisors LLC bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $3,817,000. Profund Advisors LLC lifted its stake in Mid-America Apartment Communities by 41.7% during the third quarter. Profund Advisors LLC now owns 2,158 shares of the real estate investment trust's stock valued at $254,000 after purchasing an additional 635 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Mid-America Apartment Communities by 1.7% during the third quarter. ProShare Advisors LLC now owns 22,525 shares of the real estate investment trust's stock valued at $2,652,000 after purchasing an additional 379 shares during the last quarter. Institutional investors own 93.60% of the company's stock.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Adrian Hill purchased 844 shares of the firm's stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average price of $118.35 per share, with a total value of $99,887.40. Following the purchase, the executive vice president directly owned 65,277 shares in the company, valued at $7,725,532.95. This represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price objective on Mid-America Apartment Communities from $146.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, September 17th. KeyCorp reaffirmed an "overweight" rating on shares of Mid-America Apartment Communities in a research report on Tuesday, September 29th. BNP Paribas Exane raised Mid-America Apartment Communities from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Citigroup reaffirmed a "market outperform" rating on shares of Mid-America Apartment Communities in a report on Friday, October 30th. Finally, Royal Bank Of Canada decreased their price target on Mid-America Apartment Communities from $138.00 to $127.00 and set a "sector perform" rating for the company in a research report on Tuesday, October 13th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $137.29.

Mid-America Apartment Communities Stock Performance

MAA opened at $119.38 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $13.85 billion, a PE ratio of 36.17 and a beta of 0.71. The stock has a 50-day moving average of $120.01 and a 200-day moving average of $128.70. Mid-America Apartment Communities, Inc. has a 52-week low of $113.95 and a 52-week high of $144.41.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The business had revenue of $560.13 million during the quarter, compared to the consensus estimate of $558.07 million. During the same quarter in the previous year, the firm posted $2.16 earnings per share. The company's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.50 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were issued a dividend of $1.53 per share. This represents a $6.12 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Thursday, October 15th. Mid-America Apartment Communities's payout ratio is presently 185.45%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities.

The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas.

Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H.

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