OVERSEA CHINESE BANKING Corp Ltd Purchases 13,208 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 50.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,311 shares of the real estate investment trust's stock after acquiring an additional 13,208 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Mid-America Apartment Communities were worth $6,588,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Mid-America Apartment Communities by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 192,228 shares of the real estate investment trust's stock valued at $32,214,000 after acquiring an additional 2,800 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Mid-America Apartment Communities by 106.9% in the 1st quarter. Summit Trail Advisors LLC now owns 4,401 shares of the real estate investment trust's stock valued at $738,000 after buying an additional 2,274 shares during the last quarter. Starwood Capital Group Management L.L.C. grew its holdings in Mid-America Apartment Communities by 17.7% in the 4th quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust's stock valued at $33,914,000 after buying an additional 33,000 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Mid-America Apartment Communities by 92.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 28,134 shares of the real estate investment trust's stock valued at $4,715,000 after buying an additional 13,482 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Mid-America Apartment Communities by 1.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 362,264 shares of the real estate investment trust's stock valued at $60,708,000 after buying an additional 5,650 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Mid-America Apartment Communities

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

Mid-America Apartment Communities Price Performance

Shares of MAA stock traded up $0.48 during trading hours on Thursday, reaching $150.84. The company's stock had a trading volume of 867,192 shares, compared to its average volume of 805,445. The firm's 50 day simple moving average is $152.76 and its 200-day simple moving average is $156.25. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 3.78 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a fifty-two week low of $138.89 and a fifty-two week high of $173.38. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The company had revenue of $549.30 million for the quarter, compared to the consensus estimate 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 for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $2.22 EPS. Sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 126.25%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MAA shares. Raymond James Financial lowered Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. UBS Group decreased their price objective on Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a report on Tuesday. Scotiabank decreased their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a report on Friday, June 13th. Truist Financial decreased their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Finally, JMP Securities lifted their price objective on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $168.81.

Mid-America Apartment Communities 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.