Mid-America Apartment Communities, Inc. $MAA Stake Lowered by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its MAA stake by 17.4% in the fourth quarter, selling 256,826 shares and leaving it with 1,221,331 shares valued at about $169.7 million.
• Analysts are cautious on the stock: several firms lowered price targets or ratings, and the overall consensus now stands at Hold with an average target price of $143.44.
• Mid-America Apartment Communities posted strong earnings and a hefty dividend, reporting Q1 EPS of $2.13 versus $0.83 expected, while also announcing a quarterly dividend of $1.53 per share, or $6.12 annualized, yielding 4.7%.

Legal & General Group Plc reduced its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,221,331 shares of the real estate investment trust's stock after selling 256,826 shares during the period. Legal & General Group Plc owned 1.04% of Mid-America Apartment Communities worth $169,655,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MAA. Tobam bought a new stake in Mid-America Apartment Communities in the third quarter worth $26,000. Physician Wealth Advisors Inc. boosted its holdings in Mid-America Apartment Communities by 65.2% in the fourth quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Mid-America Apartment Communities in the third quarter worth $33,000. Sentry Investment Management LLC bought a new stake in Mid-America Apartment Communities in the third quarter worth $36,000. Finally, United Community Bank boosted its holdings in Mid-America Apartment Communities by 1,000.0% in the third quarter. United Community Bank now owns 297 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 270 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MAA has been the subject of a number of recent research reports. BTIG Research decreased their price objective on shares of Mid-America Apartment Communities from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Colliers Securities cut shares of Mid-America Apartment Communities from a "moderate buy" rating to a "hold" rating in a report on Monday, February 9th. Cantor Fitzgerald decreased their price objective on shares of Mid-America Apartment Communities from $141.00 to $132.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Royal Bank Of Canada decreased their price objective on shares of Mid-America Apartment Communities from $138.00 to $136.00 and set a "sector perform" rating for the company in a report on Friday, February 6th. Finally, Scotiabank reiterated a "sector underperform" rating and issued a $120.00 price objective (down from $138.00) on shares of Mid-America Apartment Communities in a report on Thursday, May 14th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and an average target price of $143.44.

Mid-America Apartment Communities Stock Up 0.0%

Mid-America Apartment Communities stock opened at $130.58 on Thursday. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of 39.57 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. Mid-America Apartment Communities, Inc. has a fifty-two week low of $120.30 and a fifty-two week high of $156.76. The firm has a fifty day moving average price of $126.54 and a two-hundred day moving average price of $131.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $1.30. The firm had revenue of $553.73 million during the quarter, compared to analyst estimates of $555.75 million. Mid-America Apartment Communities had a net margin of 17.60% and a return on equity of 6.61%. The business's revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 EPS. 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. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.51 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 Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $1.53 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a yield of 4.7%. Mid-America Apartment Communities's payout ratio is currently 185.45%.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 711 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $124.73, for a total transaction of $88,683.03. Following the completion of the transaction, the executive vice president owned 4,471 shares of the company's stock, valued at $557,667.83. The trade was a 13.72% decrease in their position. The transaction was disclosed in a legal filing 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. Also, Director Tamara D. Fischer acquired 1,100 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $128.55 per share, with a total value of $141,405.00. Following the transaction, the director directly owned 1,100 shares of the company's stock, valued at $141,405. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 1,039 shares of company stock valued at $129,594. Company insiders own 0.60% of the company's stock.

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.

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