Mid-America Apartment Communities, Inc. $MAA Stock Sold by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its MAA stake by 6.9% in the third quarter, selling 15,092 shares and retaining 203,774 shares valued at approximately $24 million. Institutional investors collectively own 93.6% of the REIT.
• MAA’s shares opened at $116.39, near the lower end of their 52-week range. The company reported quarterly EPS of $2.08, well above the $0.76 analyst estimate, while revenue rose 1% year over year to $555.13 million.
• The REIT declared a quarterly dividend of $1.53 per share, equivalent to a 5.3% annualized yield. Analysts’ consensus rating is “Hold,” with an average price target of $141.12.

Perpetual Ltd cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,774 shares of the real estate investment trust's stock after selling 15,092 shares during the quarter. Perpetual Ltd owned 0.18% of Mid-America Apartment Communities worth $23,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MAA. BlackRock Inc. acquired a new stake in shares of Mid-America Apartment Communities in the second quarter valued at about $1,820,661,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Mid-America Apartment Communities during the second quarter worth about $175,377,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Mid-America Apartment Communities by 15,892.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,221,025 shares of the real estate investment trust's stock worth $169,649,000 after buying an additional 1,213,390 shares during the period. Legal & General Group Plc acquired a new position in Mid-America Apartment Communities during the second quarter worth about $155,052,000. Finally, Bank of America Corp DE purchased a new position in Mid-America Apartment Communities in the second quarter valued at about $113,695,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $116.39 on Tuesday. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 34.03 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 52 week low of $113.95 and a 52 week high of $144.41. The company's 50-day moving average price is $125.54 and its 200 day moving average price is $129.32. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, beating the consensus estimate of $0.76 by $1.32. The firm had revenue of $555.13 million during the quarter, compared to the consensus estimate of $556.18 million. Mid-America Apartment Communities had a net margin of 18.17% and a return on equity of 6.99%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $2.15 EPS. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a $1.53 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.12 annualized dividend and a dividend yield of 5.3%. Mid-America Apartment Communities's dividend payout ratio is currently 178.95%.

Analysts Set New Price Targets

MAA has been the topic of several research analyst reports. Scotiabank decreased their price target on Mid-America Apartment Communities from $134.00 to $125.00 and set a "sector underperform" rating on the stock in a research note on Thursday, September 17th. KeyCorp restated an "overweight" rating on shares of Mid-America Apartment Communities in a report on Tuesday, September 29th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Mid-America Apartment Communities in a research note on Thursday, August 27th. Citigroup reaffirmed a "market outperform" rating on shares of Mid-America Apartment Communities in a report on Wednesday, September 2nd. Finally, 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 report on Thursday, September 17th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $141.12.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc NYSE: MAA is a self-administered and self-managed real estate investment trust focused on the ownership, operation and management of multifamily apartment communities. The company generates revenue primarily by leasing residential apartment homes to individuals and families.

MAA's portfolio is concentrated in the southeastern and southwestern United States, with communities serving markets across the Sun Belt, including states such as Tennessee, Texas, Florida, Georgia, North Carolina, South Carolina and Virginia.

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