Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by TCW Group Inc.

Key Points

• TCW Group Inc. increased its stake in Mid-America Apartment Communities, Inc. by 110.3% in Q1, holding 36,788 shares valued at $6.17 million as of their latest SEC filing.
• The company's recent quarterly earnings report exceeded expectations with $2.20 EPS, while revenue reached $549.3 million, showing a year-over-year increase of 1.0%.
• Mid-America Apartment Communities announced a quarterly dividend of $1.515 per share, with an ex-dividend date of July 15th, representing an annualized dividend yield of 3.99%.

TCW Group Inc. boosted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 110.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,788 shares of the real estate investment trust's stock after buying an additional 19,296 shares during the period. TCW Group Inc.'s holdings in Mid-America Apartment Communities were worth $6,165,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Mid-America Apartment Communities by 4.1% in the 1st quarter. LPL Financial LLC now owns 46,347 shares of the real estate investment trust's stock valued at $7,767,000 after acquiring an additional 1,813 shares during the period. Texas Yale Capital Corp. purchased a new position in Mid-America Apartment Communities during the 1st quarter worth $379,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Mid-America Apartment Communities by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,194 shares of the real estate investment trust's stock valued at $26,007,000 after purchasing an additional 7,712 shares during the period. TD Asset Management Inc raised its holdings in shares of Mid-America Apartment Communities by 26.1% in the first quarter. TD Asset Management Inc now owns 51,681 shares of the real estate investment trust's stock valued at $8,661,000 after buying an additional 10,686 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of Mid-America Apartment Communities by 4.4% during the first quarter. HB Wealth Management LLC now owns 12,867 shares of the real estate investment trust's stock worth $2,156,000 after buying an additional 539 shares during the period. Institutional investors and hedge funds own 93.60% of the company's stock.

Analyst Ratings Changes

MAA has been the topic of a number of research reports. Robert W. Baird raised their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Truist Financial cut their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Scotiabank lowered their price objective on shares of Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research report on Friday, June 13th. Finally, The Goldman Sachs Group downgraded shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price objective for the company. in a research report on Friday, July 11th. One 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 stock has a consensus rating of "Hold" and an average price target of $168.81.

Insider Buying and Selling

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president owned 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

Mid-America Apartment Communities Price Performance

MAA stock opened at $151.75 on Monday. The firm has a 50 day moving average of $151.35 and a 200-day moving average of $156.30. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.88 and a beta of 0.75. The company has a current ratio of 0.11, a quick 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 issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. The firm had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. Mid-America Apartment Communities's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.22 earnings per share. As a group, equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.99%. Mid-America Apartment Communities's dividend payout ratio is presently 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.

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